Italy-based steelmaker Feralpi Group has announced that it has inked a power purchase agreement (PPA) with US-based renewable energy company Enfinity Global for the supply of solar energy, in line with its decarbonization efforts.
Within the scope of the PPA, Enfinity will provide 23 GWh of clean energy per year from its 15.5 MW solar power plant in Ferrara province in Italy, which is currently under construction and is scheduled for commencement by the end of next year, to the Italian steelmaker’s production sites in northern Italy. As a result, Feralpi will be able to reduce its emissions by 8,625 mt per year.
The Italian company aims to cut its Scope 1 and Scope 2 emissions by 50 percent and its Scope 3 emissions by 25 percent by 2030.