Centrica signs PPAs in Italy for 315 MW of wind power

UK energy company Centrica PLC (LON:CNA) signed power purchase agreements (PPAs) with fund manager Glennmont Partners for 315 MW of wind power in Italy.

The PPAs represent the UK company's route-to-market offering in Italy and cover the trading and balancing of the capacity of 13 onshore wind farms in Southern Italy and Sicily.

Over the past two years, Centrica has been involved in various route-to-market projects in Europe since the company considers them a key part of its Energy Marketing & Trading business. At the same time, Centrica believes the PPA market will grow rapidly around the world as renewable energy reaches grid parity and subsidies phase out, it noted.

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