Iberdrola Secures Off-Site PPA With Acciaierie Venete Spa To Drive Renewable Energy Transition In Steel Industry

Iberdrola, a global leader in renewable energy, and Acciaierie Venete Spa, a key player in Europe’s steel industry, have signed a multi-year Off-site Power Purchase Agreement (PPA) for 12 MW of green energy. Under this agreement, Iberdrola will supply 230 GWh of renewable energy from one of its solar plants currently being built. This clean energy supply is expected to cut CO2 emissions by around 6,960 tonnes per year—equivalent to the CO2 absorbed by 64,000 trees or the energy needs of about 5,800 households.

Francesco Semino, CSO of Acciaierie Venete Spa, said in a statement, “This partnership with Iberdrola is consistent with our commitment to sustainability. And should be seen as part of a decarbonisation process that aims to reduce specific CO2 emissions by more than 50% by 2030″.

Lorenzo Costantini, Sales Director of Iberdrola Italia, mentioned “We are proud to be able to contribute to the sustainability goals of Acciaierie Venete, a point of reference in the Italian and European steel sector. This PPA represents a further step in our strategy aimed at promoting the use of energy from renewable sources among industrial partners, thus supporting the energy security of our country.”

Iberdrola has a strong history of managing long-term power purchase agreements (PPAs) in markets worldwide, including Spain, the UK, Portugal, Germany, the USA, Mexico, Brazil, and Australia, with support from wind and solar projects. As a top European player in the growing PPA market, Iberdrola secured nearly 1,000 MW in agreements in 2023, as highlighted by Pexapark’s European PPA Market Outlook for 2024.

In Italy, Iberdrola is investing heavily in renewable energy and industrial decarbonization, supporting the country’s shift toward clean energy and enhancing its energy security. With nearly 150 projects underway in Italy, Iberdrola aims to reach 400 MW of installed capacity by 2025, playing a key role in advancing Italy’s sustainability and decarbonization targets in the industrial sector.