A new deal will see the Italian operator expand their existing Power Purchase Agreement (PPA) with ERG to encompass a further 200GWh/year of renewable energy over the coming decade
This week, TIM has announced a new PPA agreement with independent renewable energy firm ERG via the latter’s subsidiary Telenergia.
The new nine-year agreement will see ERG provide the operator with an additional “baseload” 200 GWh/year of renewable energy.
TIM first signed a deal with ERG for renewable energy back in May 2021, securing 340GWh/year for ten years over the 2022–2031 period.
Financial details of the deal were not disclosed
As a result of this deal, around 34% of TIM’s energy purchases will come from renewable sources via PPAs.
“We are the second biggest Italian energy consumer and therefore it is crucial to make choices with the goal of resolving environmental issues,” explained TIM CEO Pietro Labriola. “The new agreement signed with ERG will help us to reach the ESG targets we have set ourselves, while at the same time stabilising costs in a context of continued macroeconomic uncertainty. The agreement confirms, once again, the importance of forging robust partnerships which share an industrial vision as well as consideration of the environment.”
TIM aims to use only renewable energy by 2025 and to generate Net Zero carbon emissions (Scope 1, 2, and 3) by 2040.