MET Inks CPPA for Italian Solar Output
- MET Group: Supplying Italian internet exchange point MIX-IT with 100% renewable energy through a CPPA with Mirto Solarpark. Consulting firms Spinergy and Energethique facilitated the deal.
On Wednesday, MET Group said its Italian unit has signed a corporate Power Purchase Agreement (CPPA) to offload all electricity generated by the Mirto Solarpark in Sicily. The off-taker is Italian internet exchange point MIX-IT, which will procure the entire output generated by Mirto and any additional volumes it requires through purchases of guarantees of renewable origin. The CPPA and the guaranteed renewable energy supply will enable MIX-IT to reach 100% renewables in its consumption. Consulting firms Spinergy and Energethique facilitated the CPPA. MET Group entered the Italian market in 2021 following an agreement with Singaporean conglomerate Keppel Corp Ltd. which transferred greenfield solar projects totalling 213 MWp to the company's joint venture.
What CPPA Will Enable MIX-IT to Reach 100% Renewables?
- The CPPA includes a renewable energy certificate (REC) component, which is used to guarantee that the energy purchased by MIX-IT comes from renewable sources.
- MET Group's Italian asset portfolio now comprises solar projects with a total capacity of 213 MWp, 90% of which have been connected to the grid and the remaining 10% are due to be connected in 2021.
- The CPPA enables MIX-IT to source up to 100% of its electricity from renewable sources, offering them secure, cost-effective energy supply and a sustainable development model.
- The CPPA will ensure that MIX-IT consumes only renewable energy, reducing their environmental footprint and making them more competitive.
- The CPPA also provides a stable and reliable source of energy supply, allowing MIX-IT to focus on their core business and create a long-term business strategy without worrying about energy supply.
- MET Group's CPPA will also help promote the development of renewable energy in Italy and the wider European region, while reducing the company's carbon footprint.
- The CPPA will also support the Italian government's long-term goal of reaching 100% renewable energy consumption by 2050.
