Edison signs long term offtake agreement for 3 million m3 of biomethane
Edison has signed a long-term contract (biomethane purchase agreement [BPA]), for the offtaking of biomethane produced from agricultural biomasses with Kanadevia Inova. Under the agreement, which has a term of 15 years, Kanadevia Inova will complete the construction of a biomethane plant fuelled by agricultural by-products in the province of Cuneo by 1H25, the production of which will be fully offtaken by Edison for an annual volume of about 3 million m3.
With this transaction, and by generating energy from renewable resources, Kanadevia Inova enters the Italian biomethane sector while Edison further diversifies its portfolio with increasing shares of green gas, offering the possibility to accompany its customers on their decarbonisation path.
“Thanks to this agreement, Edison strengthens its position in the Italian and European green gas market, offering customers, particularly energy-intensive ones, a competitive solution that can reduce their exposure to the purchase of ETS securities. At the same time, it confirms its commitment to accompany its customers on the path to decarbonisation through increasing shares of green gas, such as precisely biomethane and bio-LNG,” said Fabio Dubini EVP Gas & Power Portfolio Management & Optimization Edison.
Keith Carr, Executive Vice President Asset Management at Kanadevia Inova commented: “This collaboration with industry frontrunner Edison is the final piece in bringing our vision of a true resource circularity, decarbonisation, and sustainable energy supply to life. With the launch of our first wet anaerobic digestion plant under the design, finance, build, own, operate ((DFBOO) model in Italy, we are able to close the cycle – transforming agricultural waste into valuable biomethane to support regional decarbonisation and supply secure and sustainable energy. This proud milestone embodies Kanadevia Inova’s mission, ‘For a Future Free of Wasted Waste,’ and sets a bright new standard for potential projects ahead.”
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Read the article online at: https://www.energyglobal.com/bioenergy/07112024/edison-signs-long-term-offtake-agreement-for-3-million-m3-of-biomethane/
