In a move towards sustainability, Italian telecommunications giant TIM has recently entered into a nine-year Power Purchase Agreement (PPA) with independent renewable energy firm ERG. The agreement, in which ERG will supply an additional 200 GWh/year of renewable energy through its subsidiary Telenergia, follows the first deal signed between the two companies in May 2021, which involved providing TIM with 340 GWh/year over ten years, from 2022 to 2031.
Although the financial details of this latest agreement were not disclosed, it is evident that both parties remain firmly committed to environmental sustainability. As a result, approximately 34% of TIM’s energy purchases will now be from renewable sources through PPAs.
TIM CEO Pietro Labriola emphasized the significance of making environmentally conscious decisions, stating, “We are the second biggest Italian energy consumer and therefore it is crucial to make choices with the goal of resolving environmental issues.” Labriola further explained that the new agreement would aid in achieving the company’s set Environmental, Social, and Governance (ESG) targets, while simultaneously stabilizing costs amid ongoing macroeconomic uncertainty.
By partnering with a company like ERG, which shares both an industrial vision and a commitment to environmental considerations, TIM continues to strengthen its green energy prospects. In fact, TIM has set an ambitious goal of utilizing only renewable energy sources by 2025 and achieving Net Zero carbon emissions (Scope 1, 2, and 3) by 2040.
In similar news, Vodafone and Three UK are reportedly closing in on a merger, while Bell has teamed up with Air Canada to offer in-flight Wi-Fi services. Additionally, Virgin Media O2 and the Good Things Foundation have recently launched an apprenticeship scheme.
As the telecommunications industry continues to grow and adapt, companies must strike a delicate balance between expanding their networks and ensuring their operations remain environmentally sustainable. For TIM, the latest PPA agreement with ERG is indicative of the company’s unwavering commitment to both business excellence and environmental stewardship.
