Qualitas Energy has finalized a long-term virtual power purchase agreement (vPPA) for 27MW of its solar pipeline in Italy, with Salesforce committing to purchase the renewable energy generated over the next 15 years.
Carlos Gutierrez, Vice President of Portfolio Management at Qualitas Energy, emphasized the significance of vPPAs in advancing renewable energy adoption, stating, “In order to address the pressing challenge of climate change, virtual purchase power agreements (vPPAs) play a pivotal role in accelerating the transition to renewable energy.”
Gutierrez highlighted Qualitas Energy's commitment to innovation in energy sales strategies, enabling agreements like the one with Salesforce to support climate goals effectively.
In conjunction with the vPPA, Qualitas Energy also announced the completion of a financing transaction totaling approximately €55 million. This financing encompasses assets covered by the vPPA and additional solar projects, resulting in a portfolio of 12 solar assets across Italy with a combined installed capacity of 53MW.
Santander Corporate & Investment Banking served as the sole Mandated Lead Arranger, Green Loan and Sustainability Coordinator, and Hedge provider for this transaction.
Qualitas Energy's Italian portfolio includes 26MW currently connected to the grid, 34MW under construction, and a pipeline of 1.4GW in various stages of development, underscoring its commitment to expanding renewable energy infrastructure in the region.
