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TI.A - Telecom Italia SpA News Story

$5.21 0.0  0.0%

Last Trade - 05/07/19

Sector
Telecoms
Size
Large Cap
Market Cap £9.42bn
Enterprise Value £33.60bn
Revenue £13.43bn
Position in Universe th / 6938

ERG to supply TIM with renewable energy under 10-yr deal

Fri 14th May, 2021 7:59am
MILAN, May 14 (Reuters) - Italian renewable energy group ERG
 ERG.MI  and phone company Telecom Italia (TIM)  TLIT.MI  said
on Friday they had signed a power purchase agreement for the
supply of 3.4 terawatt-hours (TWh) of green energy for the
period 2022-2031.
    Under the deal, ERG will sell green energy to TIM at a set
price, optimising the risk profile of its investments, while TIM
will cover around 20% of its energy consumption through
renewable sources, thus strengthening its commitment to
eco-efficiency and the use of cleaner energy, the companies said
in a joint statement.   
    The move is part of TIM's efforts to become carbon neutral
by 2030. 
     
    

 (Reporting by Agnieszka Flak; editing by Valentina Za)
 ((agnieszka.flak@thomsonreuters.com; +39 02 6612 9450; Reuters
Messaging: agnieszka.flak.thomsonreuters.com@reuters.net))
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