Absolute Energy and IP Gruppo api sign a major Energy Release 2.0 agreement

IP – Gruppo api confirms its position among the major operators in Italy that have joined the Energy Release 2.0 mechanism, with an advance request of 1.71 TWh of electricity at capped prices for the next three years.

With the newly signed agreement, Absolute Energy commits to feeding back into the grid double the amount of the advanced energy through its own photovoltaic plants, reaching a total capacity of up to 120 MW.

Energy Release 2.0 is the mechanism through which the GSE (Energy Services Manager) advances a specific quantity of electricity at a predetermined price to an interested energy-intensive company. The company then commits, either directly or with the support of an industry operator, to return this energy over the following twenty years through the commissioning of new renewable energy plants.