United Caps Joins Hands with Italian Firm Renantis' 46.8 MW Wind Farm

Highlights :

* Italian renewable energy firm that develops, designs, builds and managees clean energy plants, Renantis has entered into a power purchase agreement (PPA) with United Caps, a packaging firm.

Italian renewable energy firm that develops, designs, builds and managees clean energy plants, Renantis has entered into a power purchase agreement (PPA) with United Caps, a packaging firm. Renantis will be covering the output from its 47 MW Aliden wind farm. The wind facility has been operational since 2019 in Sweden.

The 46.8 MW facility, set up in Ornskoldsvik, Vasternorrland in Northern Sweden, generates 60 gigawatt hour of electrcity every year.

As per the agreement, United Caps will buy close to 40% of the electricity generated by the wind farm. The agreement is for a period of ten years. The agreement, keeping with the goals set by United Caps, will enable it to reduce Scope 1 & 2 emissions. As a result of the PPA signed between Renantis and United Caps, the latter's European operations will employ 100% green electricity.

"This is our second corporate PPA to close in Sweden and is another important step to contract our energy consistently under long-term power purchase agreements in line with our strategy of value creation," said the CEO of Renantis, Toni Volpe.

In 2022, Renantis Group boasted of installed capacity over 1,420 MW. The firm has managed over 5000 MW of renewable energy.

A few days back, Norway-based offshore firm Argeo announced that it had entered into an agreement with Stromar consortium that comprises of OErsted, Renantis and BlueFloat Energy.

Renantis, which was formerly named Falck Renewables, also introduced a crowdfunding campaign last month. This campaign strives to lend support to the establishment of an agrivoltaic plant in Friuli Venezia Giulia in Italy. The firm has operations in UK, Italy, US, Spain, France, Norway and Sweden.