European Energy signs PPA with 595°
Published by Lydia Woellwarth,
Editor
Energy Global,
European Energy and 595° are pleased to announce that they have entered into a multi-year PPA to supply green power from European Energy’s German wind portfolio to 595°’s production facilities in Germany.
The agreement amounts to 80 GWh and will span over five years.
The agreed quantity allows 595 to cover 100% of its German electricity consumption, thereby providing a major building block to the CO2 neutrality achieved by 595° in 2022.
This deal shows the financial viability of European Energy’s portfolio of wind parks where the German state-run EEG-subsidies are no more. “595° are thus directly contributing to keeping green assets in operation after the initial state support period is over”, says Gregor McDonald, Head of Energy Trading at European Energy.
595° in turn are delighted that they are now operating a CO2 neutral light metal foundry in Germany, “as foundries are not only businesses with a very high energy consumption, we are also operating in a country with some of the highest energy costs in Europe”, says Arne Amann, COO of 595°.
Read the article online at: https://www.energyglobal.com/wind/26012022/european-energy-signs-ppa-with-595/
You might also like
Copenhagen Infrastructure Partners, KK Invest, and Danish Bio Commodities to operate and develop biogas plants
KK Invest, DBC Invest, and Copenhagen Infrastructure Partners have entered into an agreement regarding the acquisition of the majority of the shares in Sindal Biogas.