The agreement, which is pay-as-produced, stems from Sasol Italy’s commitment to long-term sustainability and has as its object the supply by GreenGo of electricity from five photovoltaic plants in three Italian regions for a total capacity of 24.5 MW. In the same agreement, Sasol Italy will provide for the collection and balancing management of the energy produced within its purchase portfolio for the Italian sites.
The plants, currently under construction, are expected to enter commercial operation in the first half of 2025 and will produce 45 GWh per year, covering more than 20 percent of the total energy consumed by Sasol Italy’s industrial sites.
The agreement, which will last ten years, will come into effect as soon as the plants go into commercial operation and provides for an innovative pricing system with a zonal price remuneration with a dynamic discount, a floor price, which is also dynamic, able to guarantee the electricity produced by the photovoltaic plants and a cap price that allows Sasol to protect itself from any price shocks.
“The dynamic value of the pricing system allows us to offer the PPA an extreme commercial robustness to the contract by targeting the economic sustainability of our first investment as an IPP” said Carlos R. Zanol, Head of PPA and Regulation at GreenGo. “Achieving a high level of bankability and an adequate system of guarantees was the strategic objective of this transaction with a global player like Sasol.
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