Trina Solar and EGO sign a Power Purchase Agreement in Italy for a 69MW portfolio
2024-10-20
Trina Solar Co., Ltd
HaiPress
CHANGZHOU,China,Oct. 18,2024 -- Trina Solar's International Systems Business Unit ("Trina Solar ISBU"),the utility-scale solar and battery storage project development arm of Trina Solar Co,Ltd,has signed a 15-year Power Purchase Agreement (PPA) with EGO,an Italian energy management company owned by the Shell Group. This contract encompasses 9 projects,totaling 69 MWp located across various regions in Italy. These projects are currently under construction or nearing commencement in 2024 and 2025,expected to generate approximately 1000 jobs in 9 regions nationally. Once operational,this portfolio is expected to generate 119 GWh annually,equivalent to electricity needs of 7,000 average-sized households.
Trina Solar ISBU - Orani,Italy 4MW project included in the portfolio
Dr. Linhui Sui,President of Trina Solar ISBU,commented: "We are very pleased to partner with EGO and the Shell Group to delivery green energy to their Italian clients,and to contribute to Italian government 65% target of electricity generated from renewable sources by 2030."
Mr. Carlo Corallo,CEO at EGO,commented: EGO is well positioned to capture this opportunity due to our specialism of managing energy produced from distributed sources and our well-established network of small asset owners. Our integration into Shell Energy Europe and its extensive trading capabilities have enabled EGO to capture an opportunity like this and deliver greater value over the longer term as solar generation grows across Italy
On this transaction,Trina Solar ISBU has been advised by Parola Associati.
*Trina Solar ISBU – "Trina Solar International System Business Unit ("Trina Solar ISBU"),a subsidiary of Trina Solar Co.,Ltd. (SHANGHAI STOCK EXCHANGE: 688599),is the utility-scale solar and battery storage project development arm of Trina Solar. It is active in more than 15 countries.
*EGO – "EGO Energy" (a member of the Shell Group),is headquartered in Genoa and is active in purchasing and aggregating electricity from distributed power plants,optimising its deployment and trading it on the local energy market.