Working with PPAs?
Vattenfall is a Swedish utility provider for electricity and gas that is looking for sustainable ways to provide energy. Thus, it is developing renewable energy from various sources, from wind over solar to biomass projects. The company is present in many countries. For example, Vattenfall's expansive solar development portfolio in Germany stands impressively at a cumulative capacity of 7 gigawatts (GW). This diverse and sizeable portfolio underscores the company's significant investment and commitment to solar energy in the German market.
Vattenfall signed a power purchase agreement (PPA) with French manufacturer Air Liquide in June 2022. The PPA covers 115MW of the 1.5GW offshore wind farm Hollandse Kust Zuid, located in the North Sea off the Netherlands. The offshore wind project is owned by Vattenfall, BASF and Allianz and will provide Air Liquide with about 500 GW-hours annually for 15 years from 2025. The wind farm is expected to be fully operational in 2023. Consisting of 140 wind turbines, this is the first offshore wind project in the world that is developed without any subsidy.
Image Source: Unsplash, 19.03.21