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AFV Beltrame Group announces the incorporation of Idroelettriche Riunite S.p.A.

AFV Beltrame Group announces, as published today by Il Sole 24 Ore, the incorporation of Idroelettriche Riunite S.p.A., a company operating in the production of renewable energy for over a century, marking a further step in the investment path for the development of the #decarbonisation plan.

Raffaele Ruella, Managing Director of AFV Beltrame Group, explains: "The objective of pushing the accelerator in the #sustainability sphere is a broad project that sees us committed on several fronts. It certainly starts with having state-of-the-art, efficient plants with controlled emissions, while paying great attention to the energy needs of the processes. Therefore, with the acquisition and incorporation of Idroelettriche Riunite, we reinforce the rigorous strategy of reducing #CO2 emissions that we have structured, through the procurement of #energy from renewable sources. This will enable us to achieve remote self-consumption and significantly reduce Scope 2 emissions, while also allowing us to be increasingly competitive in the market. It is important to consider that the energy produced by the 12 hydropower plants will not be sold on the market for speculative purposes, but will be self-consumed at our group's production sites.

There are 12 hydroelectric plants owned and operated as of January 2024 and they are located at 10 sites between Piedmont and Veneto, namely in: Carturo (PD), Collicello (VI), Valstagna (VI), Colzè (VI), Debba (VI), Agrasina (VB), Cipata (VB), Montecretese (VB), Nuova Ceretti (VB), Pontetto (VB). These are small and large-scale power plants with an average production of 160 GWh/year of renewable energy, equal to 30% of the Italian plants' energy requirements and leading to a reduction of about 36,000 tonnes of Co2 emitted into the atmosphere.

For Gianmaria Zanni, Group Energy Manager: "To achieve this result, we have built up appropriate contracts with remote self-consumption traders that will allow us to reduce procurement costs but also stabilise costs. The whole project is in addition to the existing #energyefficiency plans and will also lead to an enhancement of the business with further developments. However, other important initiatives should also be mentioned: direct investments in photovoltaics in areas we own (Veneto and Piemonte), where we are working hard on the projects and the relevant authorisations, and the signing of long-term PPA (Power Purchase Agreement) green energy contracts with plants that have already gone into operation. Last but not least, we joined the Renewability Consortium, which, thanks to the plants located in Latium, Abruzzo and Sicily, will produce 14 GWh self-consumed at our production sites.

Click here to read the full press release.