European Energy inks with power supply deal with Germany's 595° Solutions

January 25 (Renewables Now) - Danish renewables developer European Energy A/S said on Tuesday it has sealed a five-year contract to supply wind power to German aluminum products and machinery maker 595° Solutions GmbH.

The power purchase agreement (PPA) will see the Nuremberg, Bavaria-based company receive 80 GWh of electricity annually for its manufacturing sites across Germany. Thus, it will cover 100% of its power demand at home with renewable power and back its goal of becoming carbon neutral in 2022.

European Energy said it will cover its commitment under the deal with power sourced from its German wind portfolio. According to its website, the Copenhagen-based company has installed more than 2 GW of wind and solar power capacity globally.

As of September 30, 2021, European Energy had 1,996 MW of projects under construction and an additional 819 MW shovel-ready schemes.