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Green Genius strikes PPA with Respect Energy

Green Genius has signed a 41MW power purchase agreement with Respect Energy, the second such deal between the two parties since October 2022.

The PPA covers 16MW over a five-year period, while the remaining 25MW is for 10 years.

In alignment with the five-year 16MW contract, Green Genius will provide 18GWh of green electricity annually. The 10-year 25MW agreement will ensure Respect Energy receives another 29GWh yearly. Altogether, it will save around 290,000t of CO2 during the entire PPA period.

The agreement will enter into force on 1 April, 2024.

“Long-term PPAs play a crucial role in managing future markets and their risks. Moreover, we foresee that sustainability and stability in the European markets are directly related. Therefore, we are delighted to have reached a significant milestone in developing renewables across borders,” said Povilas-Emilis Cesna, Head of Trading and Origination at Green Genius.

“These where the last PPAs in our 2023 portfolio and now we are entering construction phase in Poland. Additionally, Green Genius is working on further land acquisition for the future projects in Poland.”

Sebastian Jablonski, Chairman of the Board of Respect Energy Holding, added: “We are delighted that another PPA agreement signed with Green Genius in the recent months will not only strengthen the cooperation between our companies but – most importantly – will ensure stable energy delivery to our customers.

“With the limited green energy supply and the current market instability, PPA agreements are one of the cornerstones of the future green and zero-carbon economy.”

Source : Renews