Renewable generators need to be sure they can get their power to market at a reasonable price. We have signed a pioneering contract with Europe's biggest onshore wind installation.
- 650MW wind farm supported
- 497,000tCO2e carbon emissions avoided
Providing a route-to-market for renewable power generators is one of the distinctive capabilities of Neas Energy, part of our Energy Marketing & Trading business. Neas has signed a landmark, long-term balancing and hedging contract with Europe’s biggest onshore wind farm, Markbygden ETT in Sweden. The agreement includes the management of price risks in the Nordic electricity and certificate market, as well as the physical sale and balancing of power production in the Nordic wholesale market.
Underpinning this contract is a 19-year fixed volume corporate Power Purchase Agreement (PPA) with Norsk Hydro, a leading global aluminium producer, where Centrica is offtaking power for the first year and subsequently 77% of the power will be bought by Norsk Hydro as a corporate PPA and the remainder will be sold on the power markets.