Centrica PLC (LSE:CNA) shares are leading the table of FTSE 100 risers, up 3.5%, after penning a new deal to supply Swiss microchip maker STMicroelectronics (NYSE:STM) with electricity from a proposed solar farm in Italy.
The British gas owner will provide STMicro with 61 GWh of electricity every year through generation from the Italian solar farm as part of a 10-year deal which will begin at the start of next year.
Electricity from Centrica will be used to power its Italian manufacturing plants in Agrate and Catania, as well as sites for R&D, designs, sales and marketing.
Last week, the energy giant revealed it acquired two solar projects in England’s West Country as part of plans to invest £4 billion in renewables over the coming years.
Combined, the sites in Dorset and Wiltshire will have a capacity of 29 megawatts (MW) and be able to power around 7,800 homes.