Octopus inks Italian solar PPA with Shell Energy

Solar park in Italy. Image by: Octopus.

December 11 (Renewables Now) - UK fund manager Octopus today said it has signed a five-year deal to supply electricity from part of its 70.5-MW portfolio of Italian solar assets to Shell Energy Europe Ltd.

Under the power purchase agreement (PPA), Octopus will sell power at a fixed price from six solar photovoltaic (PV) plants that are currently being built and are slated to begin operations early next year. The projects are part of the 70.5-MW portfolio consisting of 10 unsibsidised schemes.

The agreement is Octopus’ first off-take deal in Italy and includes the “Guarantees of Origin” -- a label providing information about the source of energy purchased by customers.

Octopus describes itself as the largest commercial solar player in Europe and says it has a 2,026-MW clean energy asset portfolio. The company noted that the latest deal is in line with its efforts to promote subsidy-free solar in Europe.

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Veselina Petrova is one of Renewables Now's most experienced green energy writers. For several years she has been keeping track of game-changing events both large and small projects and across the globe.

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