Agency / Source: STMicroelectronics

Check Ads Availability|e-mail Article

Are you the owner of this article?, Turn it PREMIUM with your LOGO instead - and make it 3rd party Ads-Free! within the next hour!

STMicroelectronics and ERG Sign Long-term Agreement for the Supply of Electricity Produced from Renewable Sources in Italy - STMicroelectronics and ERG, through its subsidiary ERG Power Generation, announced today that they have signed a fifteen-year Power Purchase Agreement (PPA) for the supply of renewable energy to its operations in Italy over the 2024-2038 - ERG.eu / ST.com
STMicroelectronics and ERG Sign Long-term Agreement for the Supply of Electricity Produced from Renewable Sources in Italy

 

PRZOOM - /newswire/ - Geneva, Switzerland, 2023/11/24 - STMicroelectronics and ERG, through its subsidiary ERG Power Generation, announced today that they have signed a fifteen-year Power Purchase Agreement (PPA) for the supply of renewable energy to its operations in Italy over the 2024-2038 - ERG.eu / ST.com. [NYSE: STM]

   
 
Your Banner Ad Here instead - Showing along with ALL Articles covering Energy / Hydrogen Announcements

Replace these Affiliate Programs at ANYTIME! Your banner here within the next hour. Learn How!


 

STMicroelectronics, a global semiconductor leader serving customers across the spectrum of electronics applications, and ERG, a leading European independent producer of energy from renewable sources, through its subsidiary ERG Power Generation, announced today that they have signed a fifteen-year Power Purchase Agreement (PPA) for the supply of renewable energy to its operations in Italy over the 2024-2038 timeframe. In Italy, ST operates two high-volume semiconductor manufacturing sites in Agrate (near Milan) and Catania as well as multiple R&D, design, and sales and marketing sites.

The agreement is based on the sale by ERG of approximately 250 GWh of renewable energy per year, equivalent to a total volume of 3.75 TWh over 15 years, produced by the Sicilian wind farms of Camporeale near Palermo and Mineo-Militello-Vizzini near Catania. Both are repowering projects upgraded with state-of-the art technologies for better efficiency and significantly higher power generation with a total installed capacity of 151.4 MW.

Geoff West, EVP and Chief Procurement Officer, STMicroelectronics, commented: “This agreement marks yet another important step towards ST’s goal of becoming carbon neutral in its operations (Scope 1 and 2 emissions, and partially scope 3) by 2027, including the sourcing of 100% renewable energy by 2027. PPAs will play a major role in our transition. Starting in 2024, this PPA with ERG will provide a significant level of renewable energy for ST’s operations in Italy, which includes R&D, design, sales and marketing and large-volume chip manufacturing.”

Paolo Merli, Chief Executive Officer of ERG commented: “We are pleased with this agreement with STMicroelectronics, a leading global technology operator committed, like ERG, to decarbonizing the planet through the use of renewable energy in its industrial processes. This agreement allows us to enhance, following the Partinico-Monreale wind farm, two additional repowering projects through energy sales mechanisms capable of stabilizing revenues, in line with current market standards, ensuring the proper remuneration of invested capital”.

STMicroelectronics was supported by its PPA advisory partners act renewable GmbH, renewable energy consultancy to multinational corporates, Pexapark AG, a renewables market intelligence, software and advisory company, and Parola Associati, external legal counsel.

About STMicroelectronics

At ST (st.com), we are over 50,000 creators and makers of semiconductor technologies mastering the semiconductor supply chain with state-of-the-art manufacturing facilities. An integrated device manufacturer, we work with more than 200,000 customers and thousands of partners to design and build products, solutions, and ecosystems that address their challenges and opportunities, and the need to support a more sustainable world. Our technologies enable smarter mobility, more efficient power and energy management, and the wide-scale deployment of cloud-connected autonomous things. We are committed to achieving our goal to become carbon neutral on scope 1 and 2 and partially scope 3 by 2027.

About ERG

ERG (erg.eu) is an industrial company that has been operating in the energy market for over 80 years, 70 years out of which in the oil sector supporting the development of the Country. ERG has been able to anticipate the current global decarbonisation process of the energy system through a complete transformation of its business model and to face global energy scenario challenges. It has completed the ecological transition by abandoning the oil sector and acquiring a leading role in the generation of electricity from renewable sources and natural gas in about ten years. Today it is the leading Italian wind operator, in the top ten European wind producers and among the top six photovoltaic operators in Italy.

Media Relations
Emanuela Delucchi Chief ESG, IR & Communication Officer
E: edelucchi[.]erg.eu

Anna Cavallarin- Head of External Communication
M: +39 3393985139 - E: acavallarin[.]erg.eu.

Investor Relations: Céline Berthier - Group VP, Investor Relations
T: +41.22.929.58.12 - E: celine.berthier[.]st.com.

 
 
Your Banner Ad Here instead - Showing along with ALL Articles covering Energy / Hydrogen Announcements

Replace these Affiliate Programs at ANYTIME! Your banner here within the next hour. Learn How!


 

Agency / Source: STMicroelectronics

 
 

Availability: All Regions (Including Int'l)

 

Traffic Booster: [/] Quick PRZOOM - Press & Newswire Visibility Checker

 

Distribution / Indexing: [+]  / [Company listed above is a registered member of our network. Content made possible by PRZOOM / PRTODAY indexing services]

 
 
# # #
 
 
  Your Banner Ad showing on ALL
Energy / Hydrogen articles,
CATCH Visitors via Your Competitors Announcements!


STMicroelectronics and ERG Sign Long-term Agreement for the Supply of Electricity Produced from Renewable Sources in Italy

Company website links NOT available to basic submissions
It is OK to republish and/or LINK any newswire for any legitimate media purpose as long as you name PRZOOM - Press & Newswire and LINK as the source.
 
  For more information, please visit:
Is this your article? Activate ALL web links by Upgrading to Press Release PREMIUM Plan Now!
ERG Power Generation | STMicroelectronics
Contact: Alexis Breton - ST.com 
+33(0)6 59 16 79 08 alexis.breton[.]st.com
 
PRZOOM / PRTODAY - Newswire Today disclaims any content contained in this article. If you need/wish to contact the company who published the current release, you will need to contact them - NOT us. Issuers of articles are solely responsible for the accuracy of their content. Our complete disclaimer appears here.
IMPORTANT INFORMATION: Issuance, publication or distribution of this press release in certain jurisdictions could be subject to restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with the applicable rules and regulations in the particular jurisdiction. This press release does not constitute an offer or an offering to acquire or subscribe for any STMicroelectronics securities in any jurisdiction including any other companies listed or named in this release.

Energy / Hydrogen via RSSAdd NewswireToday - PRZOOM Headline News to FeedBurner
Find who RetweetFollow @NewswireTODAY

Are you the owner of this article?, Turn it PREMIUM with your LOGO instead - and make it 3rd party Ads-Free! within the next hour!


Read Latest Press Releases From STMicroelectronics / Company Profile


Read Energy / Hydrogen Most Recent Related Press Releases:

Tractebel Supports Thorizon on Molten Salt Reactor Development
Former Thermal Power Plant to be Replaced by Cutting-edge Emissions Reduction Gas Facility to Power One Million Homes in Belgium
ABB to Acquire SEAM Group to Expand Electrification Service Offering
Yokogawa Provides Remote Operation/Monitoring System and Video Monitoring Solution for Japan's Largest Wind Farm
Tantalus Launches TRUGrid™ Transformer to Accelerate Grid Modernization
TDK Ventures Invests in Singapore-based Startup Amperesand to Empower Global Electrification through Solid State Transformers
ABB to Support New H2 Green Steel Plant in Sweden with Around 1,200 Energy-efficient Drives
ANDRITZ to Supply Equipment for Major Pumped Storage Project in Greece
ABB and MODEC’s Fourteenth Collaboration Supports Growing South American FPSO Market
Investment in Gore Street Energy Storage Fund PLC, An Operator of Energy Storage Systems, for Strategic Partnership through Nidec’s Subsidiary

Boost Your Social Network
& Crowdfunding Campaigns


LIFETIME SOCIAL MEDIA WALL
 
NewswireToday Celebrates 10 Years in Business
.



PREMIUM Members


Visit  JobsWare.com

Visit  BizJobs.com

Visit  Limelon Advertising, Co.







 
  ©2005-2024 PRZOOM - Limelon Advertising, Co.
Home | About PRZOOM | Advertise/Pricing | Contact | Investors | Privacy/TOS | Sitemap | FRANCAIS
newswire, PR press releases distribution service magazines engine news alert newsroom press room breaking news public relations articles company news alerts newswiredistribution ezine bizentrepreneur biznewstoday digital business report market search pr firms agencies reports distri-bution today investor relation successful internet entrepreneur newswire distribution prtoday.com freenewswiredistribution asianewstoday bizwiretoday USA pr UK today