Nadara Secures Power Purchase Agreements with Statkraft for 132 MW Onshore Wind Farms in Italy
Key Insights
Nadara has secured power purchase agreements with Statkraft for 132 MW of onshore wind farm capacity across multiple sites in Italy.
The long-term PPAs, spanning 10-12 years, will provide stable revenue for Nadara's projects, expected to commence operations from late 2025.
This collaboration significantly contributes to Italy's renewable energy targets and expands Statkraft's renewable portfolio in Southern Europe.
The deal underscores the growing importance of corporate PPAs in financing new renewable energy capacity and de-risking investments in the Italian market.
Nadara, a prominent Italian renewable energy developer, has finalized a series of power purchase agreements (PPAs) with Statkraft, Europe’s largest generator of renewable energy, for a combined capacity of 132 megawatts (MW) from onshore wind farms across Italy. The agreements, announced this week, secure long-term off-take for Nadara’s portfolio of wind projects, marking a significant milestone in Italy’s accelerating energy transition and bolstering Statkraft’s growing presence in the Southern European market.
The PPAs cover electricity generated from multiple wind farm sites located in various regions of Italy, including Puglia and Sicily, where wind resources are abundant. These projects are currently in different stages of development and construction, with commercial operations anticipated to commence progressively from late 2025 through 2027. The contractual terms of the PPAs extend for a period of 10 to 12 years, providing Nadara with predictable revenue streams and mitigating market price volatility, a crucial factor for project financing and investor confidence.
Italy has set ambitious targets to increase its renewable energy share, aiming for 70% of electricity generation from renewables by 2030. Onshore wind, with its established technology and competitive costs, is a cornerstone of this strategy. The 132 MW secured by Statkraft represents a substantial contribution to this goal, equivalent to powering approximately 100,000 Italian homes annually and offsetting an estimated 150,000 metric tons of CO2 emissions per year. This collaboration underscores the increasing role of corporate PPAs in driving new renewable capacity, moving beyond traditional subsidy-based models.
Statkraft, a state-owned Norwegian company, has been actively expanding its renewable energy portfolio across Europe, focusing on markets with high growth potential. Its strategic decision to partner with Nadara reflects the attractiveness of the Italian market, characterized by strong policy support and a robust pipeline of shovel-ready projects. “These agreements reinforce our commitment to supporting Italy’s green energy transition and expanding our renewable asset base,” stated a Statkraft spokesperson, emphasizing the long-term value these projects bring to their European portfolio.
For Nadara, these PPAs are instrumental in de-risking its investment and attracting further capital for its extensive development pipeline. “Securing these long-term PPAs with a reputable partner like Statkraft is a testament to the quality of our projects and our team’s execution capabilities,” commented a Nadara executive. The deal highlights the increasing maturity of the Italian renewable energy market, where developers are increasingly leveraging private off-take agreements to finance large-scale projects, thereby accelerating the deployment of clean energy infrastructure and contributing significantly to national and European climate objectives.