Erg launches the 2021-2025 industrial plan, with investments planned for over 2 billion, and signs an energy supply agreement with Tim: the largest ever signed in Italy. The quarterly report was also approved by the board while it shows, for the company, a Net income growing, to 65 million e revenues of 280 million (+3 million compared to the first quarter of 2020).
The Ligurian group led by the Garrone and Mondini families, through the subsidiary Erg Power Generation, and Tim, through the subsidiary Telenergia, have signed a corporate Ppa (Power purchase agreement) with a ten-year duration for the supply of 3.4 terawatt hours of green energy for the period 2022-2031.
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Agreement with Tim
The agreement, Erg underlines, is the largest ever signed between two Italian companies and provides for the supply of 100% energy to Tim green directly from the Erg portfolio coming from wind farms. The supply will take place, for one part, in modality baseload and, for one part, pay as produced from wind farms subject to interventions of reblading of Lacedonia Monteverde and Avigliano starting from 2023, and with the possibility of increasing its volume by including other upgrading projects planned by Erg on its wind fleet.
According to the agreement, Erg will give up energy
green
Investments of 2 billion
Erg’s board of directors also approved the business plan and the ESG plan (Environmental, social, governance) 2021-2025. The strategy, explains a note from the company, will continue to be focused on growth in “renewables through a policy of geographic and technological diversification and the progressive securitization of revenues”.