Energy Central-News Article

This is the second Corporate PPA signed by Neoen in Sweden. The Storbrännkullen wind farm is located in the counties of Jämtland and Västernorrland, in the municipalities of Ragunda, Strömsud and Sollefteå. With the signing of this second PPA, a few weeks after that of the largest solar PPA (90 MWp) concluded in Sweden for the Hultsfred photovoltaic park, Neoen demonstrates its ability to carry out large-scale solar and wind projects.

Key Highlights:

* Coveris will purchase the equivalent of more than 60% of the green electricity produced and injected into the Swedish grid by the future Storbrännkullen wind farm.

* Neoen thus affirms its ambition to become a benchmark player in Sweden and to actively participate in achieving the national objective of 100% carbon-free energy by 2040.

Original Press Release:

Paris and Stockholm, Jan. 30 -- Neoen issued the following news release:

- The contract signed with Coveris in the form of Virtual PPA corresponds to more than 60% of the green electricity that will be produced by Neoen at its Storbrännkullen wind farm (57.4 MW), currently under construction

- With a duration of 10 years, this PPA is partially indexed to market prices

- This is the second Corporate PPA signed in a few weeks by Neoen in Sweden, after the largest solar PPA concluded to date in the country.

Neoen (ISIN: FR0011675362, mnemonic: NEOEN), one of the main independent producers of exclusively renewable energy, announces that it has signed a virtual power purchase agreement (Virtual PPA) at the end of December 2022 with Coveris, one of the European leaders in the packaging. This is the second Corporate PPA signed by Neoen in Sweden.

Under the terms of this contract, Coveris will purchase the equivalent of more than 60% of the green electricity (with its guarantees of origin) produced and injected into the Swedish grid by the future Storbrännkullen wind farm, whose total capacity will be of 57.4MW. This 10-year contract is partially indexed to market prices. The rest of the energy and guarantees of origin will be sold by Neoen on the Nordic electricity market.

The Storbrännkullen wind farm is located in the counties of Jämtland and Västernorrland, in the municipalities of Ragunda, Strömsud and Sollefteå, about a hundred kilometers from the city of Östersund. Its construction began in July 2022 and it should be commissioned at the end of 2023.

With the signing of this second PPA, a few weeks after that of the largest solar PPA (90 MWp) concluded in Sweden for the Hultsfred photovoltaic park, Neoen demonstrates its ability to carry out large-scale solar and wind projects. Neoen thus affirms its ambition to become a benchmark player in Sweden and to actively participate in achieving the national objective of 100% carbon-free energy by 2040. Present in Sweden since 2020, the local Neoen team quickly expanded. It is developing a portfolio of several hundred MW of wind and solar power across the country, as well as storage projects.

Christophe Desplats-Redier, Regional Director Europe, declares: “I would like to thank Coveris for the trust they place in us and to congratulate our team for signing this agreement. As the construction of our first Swedish wind farm was launched in July, we are very happy with the realization of this contract. After the solar PPA concluded very recently, this is the second Corporate PPA that we have signed in 2022 in Sweden, a country in which we will accelerate our development in solar, wind and storage. »

Christian Kolarik, Coveris, comments: “Renewable energies are an essential pillar of our global sustainability strategy. As a major player in the packaging sector, we are extremely proud to support the construction of the Neoen wind farm and thus increase the supply of green energy in Europe. This virtual PPA signed with Neoen is also essential in the deployment of our “No Waste” sustainable development strategy. It will contribute to achieving carbon neutrality on our scope 2 and improving our ESG profile. »

Xavier Barbaro, Chairman and CEO of Neoen, concludes: “I congratulate the Neoen teams in Sweden for this new success which crowns a year 2022 already rich in achievements. Sweden is for us a key country in our growth strategy in Northern Europe. Neoen is proud to participate in supplying our continent with green and sovereign energy. We are also delighted to be a lever of competitiveness for Coveris and for European manufacturers, by supplying them with electricity over the long term at a structurally advantageous price. »

Disclaimer: The Above Content is Auto-Translated

Source: Neoen

[Category: Energy]