(Alliance News) - Eni Spa has announced that Plenitude will develop a new 890 kWp photovoltaic plant at the facilities of STAT, a company specializing in the design and production of cold-stamped sheet metal components for the automotive industry, based in Poirino, Turin.

Once operational, the plant will power a portion of the site's industrial activities, covering a share of the factory's energy requirements, while any surplus energy not consumed on-site will be fed back into the grid.

The installation is an integral part of a comprehensive energy services offering which, alongside energy supply, includes a 15-year on-site PPA signed by the two companies, according to a corporate press release.

The agreement will allow STAT to benefit from renewable energy at a fixed, predetermined price, generated by the solar array located on the building's roof, which will directly contribute to powering the company's industrial operations.

The on-site PPA, the company specified in a note, 'requires no initial investment from the client. The plant will be entirely financed by Plenitude, which will oversee its design, construction, management, and maintenance, ensuring its operation throughout the duration of the contract'.

The agreement also includes an option for STAT to acquire the plant before the PPA expires.

Eni shares rose 0.4% to EUR23.22 per share.

By Chiara Bruschi, Alliance News reporter

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