December 17 (Renewables Now) - UK renewables investor Octopus today said it will be supplying EGO Group with power from a 63-MW portfolio of subsidy-free solar parks in Italy.
The parties have signed a power purchase agreement (PPA) that renews a previous contract with EGO for the particular assets. Under the new deal, Octopus will deliver electricity to its client at a fixed price by September 2023. Guarantees of Origin are also part of the agreement.
The five photovoltaic (PV) plants part of the portfolio are located near Montalto di Castro, in Italy's central region of Lazio. They are part of a EUR-23-million (USD 26.1m) refinancing deal that Octopus signed in January with MPS Capital Services Banca per le Imprese (MPSCS).
The UK company noted it currently has 103 MW of contracted solar capacity with EGO, being the bulk of its Italian solar assets of 173 MW. Just last week, Octopus secured a five-year PPA to supply electricity from part of a 70.5-MW Italian solar portfolio to Shell Energy Europe Ltd.
(EUR 1.0 = USD 1.133)