Galileo, the prominent pan-European renewable energy development platform, announced a groundbreaking achievement today as it inked its inaugural Corporate Power Purchase Agreement (PPA) with a major global corporation listed on the New York Stock Exchange (NYSE). The agreement, spanning a decade, signifies a pivotal step in Galileo’s mission to decarbonize industrial processes by providing sustainable energy solutions.
Under the terms of the agreement, Galileo will supply electricity generated by three of its solar PV projects in Italy to the client corporation. These projects, located in the Campania region, boast a combined capacity of 23 MW and are anticipated to produce over 40 GWh of electricity annually. The primary objective of this partnership is to significantly reduce the client company’s carbon footprint, aligning with the broader global shift toward cleaner, greener energy practices.
This landmark deal underscores Galileo’s commitment since its establishment in 2020 to commercialize renewable energy and offer compelling solutions to industrial partners, ensuring a stable revenue stream for its projects. The company’s Chief Commercial Officer, Paolo Grossi, expressed his enthusiasm, stating, “We are very pleased to have signed this agreement with a leading global industrial company. Selling long-term energy to a high-profile customer reflects the quality of our projects and our ability to support customers in their energy transition.”
This development illuminates the escalating interest and demand among energy-intensive corporations across Europe for renewable energy projects. Galileo’s success in securing this agreement not only demonstrates the company’s capabilities but also signifies a broader trend as more businesses worldwide seek sustainable energy solutions to power their operations. Stay tuned for further updates on Galileo’s initiatives as it continues to drive the renewable energy transition across industries.