Athens, Greece – 4 October 2021 – MYTILINEOS S.A. (RIC: MYTr.AT, Bloomberg: MYTIL.GA, ADR: MYTHY US) strengthens the position of its Renewables and Storage Development (RSD) Business Unit in the Italian energy market, by securing 20-year Contract for Difference (CFD) with the Italian State-Owned Agency – GSE, for a price of 65.17€/MWh
Specifically, this Contract is referring to the 52.8MW solar project named Porto Torres, located in North-West Sardinia, a Region which is widely identified as a strategic Hub for the Italian market by MYTILINEOS. The Project has been fully developed by the RSD Business Unit and is Ready to Build. Furthermore, it is the second largest solar project to participate in the 6th Italian Renewable Energy Sources (RES) auction (Decreto FER).
The RSD Business Unit is strategically positioned in the Italian market with a 1.7 GW solar, energy storage and Green Hydrogen pipeline. The Projects are in different development stages and located in 15 regions. MYTILINEOS is established as one of the Companies to be acclaimed to participate in the future national RES auctions.
Nikos Papapetrou, General Manager of the RSD Business Unit stated: “Porto Torres project is a big achievement for the RSD team in Italy, which has developed the Project from scratch. This represents the capability of MYTILINEOS to go downstream in the development process and value chain. Jointly with the awarding of the 20% Terna Fast Reserve Auction in Center-South Italy and Sardinia this represents an additional milestone in positioning the Company as a leading player in the Italian Energy Market.”.
MYTILINEOS fully supports Greece’s and Italy’s strategic plan for decarbonization, with current and future investments, especially now that the energy prices are at historic highs in the European Union.