Can a derivative turn Europe's green energy dream into virtual reality? [Reuters]
TELECOM ITALIA (TI.A)
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Source: Reuters
Can a derivative turn Europe's green energy dream into virtual reality? - Reuters 8 Min Read MILAN/MADRID (Reuters) - Italy’s Ferrero is famous for its red-and-white Kinder chocolate eggs. But soon it may hope to be able to slap more green on the wrapper. The confectionery giant, which runs its own gas-fired power plant near its factory in northern Italy, is in early talks to help finance a new clean energy plant, possibly a solar farm in the sunnier south, according to three sources familiar with the matter. Like other companies in Europe, Ferrero is under growing pressure from investors and authorities to shift toward greener energy. But without enough wind or sunshine on its doorstep to provide a renewable alternative, it’s looking to a new financial derivative known as a virtual power-purchase agreement. These complex contracts are effectively insurance policies for renewable project developers against the risk of falling power prices, with the premiums paid by companies like Ferr
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