Potential offtaker

Iren Group

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Which other companies from Italy are actively involved in decarbonization initiatives?
  • Telecom Italia S.p.A.
  • Immobiliare Grande Distribuzione SIIQ SpA (known as IGD SIIQ)
  • Webuild S.p.A.
  • ERG spa
  • Prada Group
  • A2A S.p.A.
  • Iren Group is a leading Italian multi-utility company that operates in the sectors of energy, water, and environmental services. The company was founded in 2012 and is headquartered in Reggio Emilia, Italy. Iren Group is committed to decarbonisation and the transition to a low-carbon economy. The company has set ambitious goals to reduce its carbon footprint and increase the share of renewable energy in its portfolio.

    One of the key areas of focus for Iren Group is corporate energy. The company offers a wide range of energy services to businesses and public sector organizations, including energy efficiency solutions, energy management, and renewable energy installations. Iren Group has a team of experts who work closely with clients to design and implement customized energy solutions that meet their specific needs and goals.

    One of the most innovative solutions offered by Iren Group is corporate power purchase agreements (PPAs). A corporate PPA is a long-term contract between a company and a renewable energy provider, under which the company agrees to purchase a specified amount of renewable energy at a fixed price. Corporate PPAs are a powerful tool for companies that want to reduce their carbon footprint and secure a reliable and cost-effective source of renewable energy.

    Iren Group has been at the forefront of the corporate PPA market in Italy, having signed several agreements with large companies in the country. For example, in 2019, Iren Group signed a 10-year PPA with Eni, one of the largest energy companies in Italy. Under the agreement, Iren Group will supply Eni with 80 GWh of renewable energy per year, which is equivalent to the energy consumption of around 25,000 households.

    Renewable energy is a key focus area for Iren Group. The company has set a target to increase the share of renewable energy in its portfolio to 50% by 2030. To achieve this goal, Iren Group is investing in a wide range of renewable energy technologies, including wind, solar, hydro, and biomass. The company has a portfolio of renewable energy assets with a total capacity of over 1,000 MW.

    One of the most significant renewable energy projects undertaken by Iren Group is the construction of a 57 MW wind farm in the region of Basilicata, southern Italy. The wind farm, which is expected to be operational by the end of 2021, will generate enough renewable energy to power around 35,000 households and will save around 50,000 tons of CO2 emissions per year.

    In addition to its renewable energy projects, Iren Group is also investing in energy storage technologies to support the integration of renewable energy into the grid. The company has installed several energy storage systems in Italy, including a 4 MW battery storage system in the city of Turin. The system is designed to store excess energy generated by solar panels during the day and release it during peak demand periods, reducing the need for fossil fuel-fired power plants.

    Iren Group is also committed to promoting energy efficiency and reducing energy consumption. The company offers a range of energy efficiency solutions to businesses and public sector organizations, including building retrofitting, lighting upgrades, and energy management systems. Iren Group has implemented several energy efficiency projects in Italy, including a lighting upgrade project in the city of Genoa that is expected to save around 1,500 tons of CO2 emissions per year.

    In conclusion, Iren Group is a leading Italian multi-utility company that is committed to decarbonisation and the transition to a low-carbon economy. The company offers a wide range of energy services to businesses and public sector organizations, including corporate energy, corporate PPA, renewable energy, and energy efficiency solutions. Iren Group has set ambitious goals to reduce its carbon footprint and increase the share of renewable energy in its portfolio. The company has a portfolio of renewable energy assets with a total capacity of over 1,000 MW and is investing in energy storage technologies to support the integration of renewable energy into the grid. Iren Group is a leader in the corporate PPA market in Italy and has signed several agreements with large companies in the country.

    ✓ Science Based Targets member