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ENERGY S.P.A. EQS-News:  Renewables, for the first time in 2023 'clean' sources produced two thirds of electricity in the EU. 

Transparency directive : regulatory news

13/02/2024 08:00

EQS-News: Energy S.p.A. / Key word(s): Study
 Renewables, for the first time in 2023 'clean' sources produced two thirds of electricity in the EU. 

13.02.2024 / 08:00 CET/CEST
The issuer is solely responsible for the content of this announcement.


 Renewables, for the first time in 2023 "clean" sources produced two thirds of electricity in the EU. 

The proprietary technology of Energy S.p.A.'s storage systems it is already suitable for a wide range of renewables, including wind.
CEO Tinazzi: “The use of storage will accelerate the energy mix”.

 

Sant'Angelo di Piove di Sacco (Padua), February 13, 2024Less coal and gas, foot on the accelerator of renewables. This is what emerges from an analysis by the Ember think tank on the production of fossil fuels and the role of green energy in the EU. The data highlights how not only did the weight of coal and gas in the European Union's electricity production collapse in 2023, recording an unprecedented decline, but for the first time in history their decline was compensated by the increase in green sources and renewables have exceeded 40% of EU electricity, reaching 44%. "Clean" sources, in total, exceed two thirds of the energy mix. Wind and solar produced 27% of the EU's electricity in 2023. With an increase of 13%, wind rose to 18% of the mix, or 475 TWh, and overtook gas for the first time (which fell to 17% of the mix).

A boost to the green transition that also comes from the Net Zero Industry Act. The European institutions have in fact reached a provisional agreement on the regulation that establishes a framework of measures to strengthen the European ecosystem to produce zero-emission technological products (Net Zero Industry Act - NZIA). The legislative proposal, deriving in turn from the Green Deal industrial plan, aims to increase the European Union's productivity of strategic zero-emission technologies to support the transition towards clean energy. The objective is for the Union's global strategic production capacity for net-zero emissions technologies to reach at least 40% of the annual deployment needs by 2030.

A positive context for Energy S.p.A., an integrated energy storage systems producer and listed on the Euronext Growth Milan market, (ISIN Code IT0005500712, Ticker ENY). The use of storage systems will be fundamental in guaranteeing the objectives of the energy transition. Energy S.p.A.'s proprietary technology is adaptable to all types of renewables, guaranteeing a timely and effective switch to the constantly evolving needs of customers. Furthermore, storage systems overcome the problems deriving from the intermittent nature of renewable energy sources as they compensate for power fluctuations and make the stored energy available, depending on usage needs.

The integration of storage systems is fundamental to achieving the decarbonization objectives set by Europe. Their use will also be an accelerator of the renewable energy mix", stated Davide Tinazzi, CEO of Energy S.p.A.. "We also warmly welcome the Net Zero Industry Act, of which we have always shared the assumptions and objectives. Our investment in the construction of the Gigafactory to produce Made in Italy LFP batteries, in our headquarters in Veneto, is an important step in this direction. The batteries that will be made in Energy's Gigafactory will equip storage systems that will guarantee the value of Made in Italy".

***

Energy S.p.A., founded in 2013 by Davide Tinazzi, Andrea Taffurelli, and Massimiliano Ghirlanda, and listed on the Euronext Growth Milan market of Borsa Italiana since August 1, 2022, is a company based in the province of Padua, a leading player in the field of energy storage systems, catering to both residential and large-scale applications. These systems enable the storage and release of energy based on the energy needs of customers. As of June 30, 2023, Energy has sold and installed over 60,000 systems across the country, serving residential, commercial, industrial, utility, and electric mobility markets. The production value as of June 30, 2023, stood at 40.1 million Euros, with revenues of 39.3 million and a net profit of 5.5 million. Among the most notable projects completed are the large facility in Comiso, Sicily, consisting of an agri-voltaic plant and a photovoltaic field; the major plant dedicated to CAAB in Bologna; Smart Grids in numerous municipalities in Sardinia and Lombardy; a Condominium Energy Community in Switzerland where individual nodes exchange energy as needed. Energy's sales channels include both general electrical material distributors and photovoltaic specialists, and the company also collaborates with major European EPCs. Energy's logistics proximity to the main distributor locations has led the company to establish strong partnerships with players in the Italian and European markets. The company procures components from leading international suppliers and combines them with proprietary software called "ZeroCO2" to create systems compliant with European Union standards. For more information, please visit www.energyspa.com  

Contacts

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13.02.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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Language: English
Company: Energy S.p.A.
Piazza Manifattura 1
38068 Rovereto TN
Italy
Phone: +39 049 270 1296
Internet: https://www.energysynt.com/
ISIN: IT0005500712
WKN: A3DRZU
Listed: Regulated Unofficial Market in Frankfurt, Munich, Stuttgart
EQS News ID: 1835695

 
End of News EQS News Service

1835695  13.02.2024 CET/CEST

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