Statkraft inks nine-year PPAs for trio of Italian solar farms

• Statkraft will buy 75 % of the power from three 38 MW solar plants in Italy under nine-year PPAs, strengthening Ellomay Capital’s renewables footprint and Italy’s maturing PPA market.

Statkraft has signed nine-year power-purchase agreements (PPAs) that secure 75 % of the output from three operating solar farms in Italy, together rated at roughly 38 MW. The long-term offtake deal guarantees predictable revenues for the plants and underpins Statkraft’s growing role as one of the country’s most active clean-power buyers. 

The projects sit in Italy’s central-southern (CSUD) market zone and have been exporting electricity to the grid since 2024. While the exact sites and strike prices remain confidential, the agreement covers the bulk of each asset’s P50 production, giving both parties high visibility on cash flow for almost a decade. 

Majority owner Ellomay Capital, an Israel-based renewables developer that indirectly holds 51 % of the three project companies, says the PPAs will stabilise earnings and free up capital for a 424 MW pipeline of Italian solar projects now in various stages of development. The company is simultaneously arranging fresh debt financing to accelerate that build-out. 

For Oslo-headquartered Statkraft, Europe’s largest generator of renewable energy, the contract adds to a string of Italian deals struck over the past two years with utilities and corporate buyers alike. The utility already manages a diversified local portfolio that spans hydropower, wind and solar as well as sophisticated power-trading operations.

Industry observers note that Italy’s PPA market has matured rapidly, driven by escalating demand from large offtakers seeking fixed-price green electricity and by developers looking to hedge merchant-exposed capacity. Recent marquee transactions—including Statkraft’s multi-gigawatt framework agreements with Mytilineos, Sonnedix and others—highlight a trend toward longer tenors and higher contracted volumes, improving bankability for new plants.

With the latest Ellomay contract, Statkraft cements its reputation as a preferred partner for mid-sized solar portfolios, while Ellomay gains a marquee offtaker that can balance intermittent generation with its flexible hydro assets. Both companies say the arrangement will help accelerate Italy’s decarbonisation goals, which call for roughly 70 GW of cumulative solar capacity by 2030—more than double today’s installed base.