EssilorLuxottica and ERG Sign a Long-term Agreement for the Supply of Electricity from Renewable Sources in Italy

EssilorLuxottica, global leader in the design, manufacture and distribution of ophthalmic lenses, prescription glasses and sunglasses, and ERG, Europe's leading independent producer of energy from renewables through its subsidiary ERG Power Generation, today announce the signing of a twelve-year Power Purchase Agreement (PPA) for the supply of approximately 900 GWh of clean energy in the period 2023 - 2034 .

The agreement provides for the sale by ERG of approximately 75% of the energy produced in the Partinico-Monreale wind farm, near Palermo, the first in the group's portfolio to complete the repowering operations. Having completed the replacement of all the obsolete turbines with new ones of the latest generation, the wind farm will consist of 10 4.2 MW turbines with a total installed capacity of 42 MW (compared to the previous 19 turbines for a total of 16 MW) and an estimated annual production of 94 GWh (compared to the previous 27 GWh). The wind farm is in an advanced construction stage and will start operating in the second quarter of 2023 .

For EssilorLuxottica, the agreement marks an important step towards the goal of achieving carbon neutrality of its corporate activities (Scope 1 and 2 emissions) in 2025, starting in Europe by the end of the year, as foreseen in its sustainability program " Eyes on the Planet ".

Francesco Milleri, Chairman and Chief Executive Officer of EssilorLuxottica said: “At EssilorLuxottica we envision a better, more sustainable future for people and the planet. The collaboration with ERG confirms our long-term commitment to these issues and to achieving the objective of carbon neutrality in our activities, reducing our environmental impact. Through our Eyes on the Planet program, we are contributing to the global agenda to tackle climate change and protect our planet for generations to come."

Paolo Merli, Chief Executive Officer of ERG commented: “We are satisfied with this agreement, a partnership between two leaders of the Italian industrial landscape committed to contributing to the decarbonisation process through the development and use of renewable energies. The agreement allows us to make the most of our first repowering project in Italy through energy sales mechanisms capable of stabilizing revenues, which are even more important today given the context of strong volatility".