"Engie Italia and Apple Sign 15-Year Virtual Power Purchase Agreement to Boost Renewable Energy in Southern Italy"

"Parola Associati has assisted Engie Italia in negotiating a 15-year virtual power purchase agreement (PPA) with Apple to support the development of new renewable energy plants in Southern Italy. The agreement includes financial settlement for the electricity produced and the provision of Guarantees of Origin (GO) to Apple. The project involves two wind farms, a wind repowering, and two agrivoltaic plants, set to operate between 2026 and 2027, with a total capacity of 173 MW, producing over 400 GWh of electricity annually. This initiative aims to reduce CO₂ emissions by over 160,000 tons per year, contributing to Engie's goal of doubling its renewable energy capacity in Italy by 2030."

**Press Release Summary** Parola Associati assisted Engie Italia in negotiating a 15-year virtual power purchase agreement (PPA) with Apple. The transaction involves a financial settlement for the electricity produced and the provision of associated Guarantees of Origin (GO) to Apple. Parola Associati was responsible for drafting the contractual documentation for the virtual PPA, with a team led by managing partner Lorenzo Parola and associate Chiara Salvaneschi. The agreement pertains to the production of energy from two wind farms, a wind repowering project, and two authorized agrivoltaic plants, which are expected to become operational between 2026 and 2027. The facilities will have a total capacity of 173 MW and are projected to generate over 400 GWh of electricity annually, with 80% allocated to Apple and the remaining 20% to the market, supporting the energy needs of approximately 30,000 households. This project is anticipated to prevent over 160,000 tons of CO₂ emissions per year, equivalent to planting over 16 million trees. It aligns with ENGIE's renewable energy development plan in Italy, which aims to double its installed capacity to 1.6 GW by 2030, compared to its current portfolio of 773 MW across photovoltaic, wind, and storage systems. **Lawyers Involved:** - Lorenzo Parola, Managing Partner, Parola Associati - Chiara Salvaneschi, Associate, Parola Associati

"Engie Italia and Apple Sign 15-Year Virtual Power Purchase Agreement to Boost Renewable Energy in Southern Italy"

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