Independent Power Producer BNZ has signed bilateral agreements to supply 1,600 gigawatt hours of renewable energy to large steel and iron companies in Italy, the company announced on 30 April 2026.

The contracts were secured under Italy's Energy Release 2.0 mechanism and represent a significant expansion of BNZ's presence in the Italian market.

Energy Release 2.0 Framework

The agreements were concluded under the Italian Energy Release 2.0 mechanism, which is managed by the public entity Gestore dei Servizi Energetici, known as GSE.

The mechanism is designed to accelerate the deployment of new renewable capacity by linking industrial electricity demand with the development of new generation assets.

Under the terms of the arrangement, energy-intensive industries purchase renewable energy for a period of three years at a fixed price of USD 76 per megawatt hour through the GSE.

The structure of the mechanism connects stable-price supply contracts to the development of new generation capacity over a 20-year period. BNZ will use the contracts as a foundation to develop new renewable projects in Italy, with those projects also benefiting from a fixed tariff over that two-decade timeframe.

Scale and Environmental Impact

The 1,600 GWh volume committed under the contracts is equivalent to the annual electricity consumption of 600,000 homes, according to BNZ. The company states the supply agreements will avoid 528,000 tonnes of carbon dioxide emissions, enabling the steel and iron companies involved to advance their decarbonization strategies.

BNZ Chief Executive Luis Selva said the contracts would strengthen the company's position in the Italian market and support the competitiveness and energy security of Italian enterprises.

"We are aware that the issue of energy costs and security is of great importance to Italian enterprises, providing them with increased financial stability and significant risk mitigation against market volatility," Selva said in a statement accompanying the announcement.

He added that BNZ's presence in Italy is growing and that the company is bringing its integrated energy platform to support the achievement of renewable target objectives.

Shift Toward Integrated Energy Operations

BNZ describes the Italian contracts as part of a broader strategic evolution. The company, which has traditionally operated as a renewable energy developer, says it is now entering a new phase by transitioning into an integrated energy operator.

This shift places energy management and hybridization at the core of its business model. Central to that model is the combination of solar and wind generation with battery energy storage systems. BNZ has disclosed a total battery energy storage system pipeline of 850 megawatts, which it describes as a key resource to enhance flexibility and resilience across its portfolio.

Storage Deployment Plans

As a near-term milestone within its storage strategy, BNZ has confirmed plans to deploy 530 megawatts of storage capacity in Southern Europe between 2026 and 2027. Of that total, 210 megawatts have been earmarked specifically for the Italian market.

The announcement of the Italian renewable energy contracts coincides with this accelerated storage buildout, with BNZ positioning battery storage as complementary to its solar assets in the region.

The company's stated strategy focuses on proximity and hybridization, developing storage projects alongside solar assets to maximize infrastructure use and improve grid stability.

European Renewable Pipeline

Across Europe, BNZ says it maintains a renewable energy pipeline of more than 2.7 gigawatts. The Italian contracts represent one component of that wider continental portfolio. Earlier this year, the company also signed two new international power purchase agreements, according to a separate announcement referenced by BNZ and dated 11 March 2026, and disclosed its broader 850 megawatt storage pipeline in an announcement on 7 April 2026.

The Energy Release 2.0 contracts in Italy mark a concrete commercial step in BNZ's effort to connect its generation development activities directly with large industrial energy consumers seeking long-term price stability and verifiable renewable supply.

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