DGAP-News: PNE AG / Key word(s): Agreement PNE AG: Power purchase agreement (PPA) for a German wind farm concluded with LichtBlick SE 17.05.2019 / 12:44 The issuer is solely responsible for the content of this announcement.
PNE AG: Power purchase agreement (PPA) for a German wind farm concluded with LichtBlick SE
- Perspective for the continued operation of wind power turbines following the EEG subsidies
- Great potential for older plants
- Experience with PPAs from foreign markets are used
Cuxhaven, May 17, 2019 - PNE AG is taking a new path for the continued operation of wind farms after the expiry of the fixed remuneration under the Renewable Energy Sources Act (EEG subsidies). PNE has concluded a first direct power purchase agreement (PPA) for a German wind farm. In addition to the technical and legal prerequisites for the continued operation of wind farms, PNE AG has a special focus on the economic aspect of such a solution. A direct power purchase agreement, which in this case was concluded with LichtBlick SE, opens up a sensible perspective here.
Thousands of wind power turbines affected From December 31, 2020, thousands of wind power turbines in Germany will lose their entitlement to fixed EEG remuneration. In 2021, approx. 4.5 GW of installed wind capacity will face the challenge of how to generate adequate electricity revenues in the future. In addition to the electricity revenues, however, the operating costs also are a problem for the wind power turbines concerned, which can only be solved professionally with a thoughtful concept of continued operation. PNE AG has solved both issues for the "Papenrode" wind farm held in its own portfolio. The management of the wind farm will be the responsibility of energy consult, a member of the PNE Group.
From January 1, 2021, the "Papenrode" wind farm will sell every kilowatt hour generated via a PPA to LichtBlick SE, based in Hamburg. 10 wind power turbines with a total capacity of 13 MW will provide the electricity. These plants were commissioned in 2000. According to calculations by PNE AG, around 17.5 gigawatt hours of wind power can be supplied annually. This corresponds to an average annual electricity consumption of around 5,500 households.
Sensible continuation of electricity production and planning security Upon the conclusion of the PPA, two topics were particularly important to the contractual partners PNE AG and LichtBlick SE: Firstly, a sensible continuation of electricity production on the basis of secure continued operation, without immediate dismantling of the wind power turbines after the expiry of the EEG fixed remuneration. Secondly, to design the supply structure in such a way that there is both planning security for the electricity consumer and sufficient flexibility for the electricity producer. After the PPA delivery period has expired, PNE AG plans to increase electricity generation of the wind farm by up to five times the previous energy yield through repowering.
PNE thus presents an alternative to the imminent dismantling of wind power turbines in Germany. So far, it has not been possible to implement an adequate further operating concept for many wind power turbines for which the fixed remuneration provided by the EEG will expire. At this point, PNE AG offers concrete concepts for profitable continued operation and thus also contributes its expertise to other market participants. At the same time, this decision secures additional potential for PNE AG to expand its project portfolio in the German market. Experience from other markets Markus Lesser, CEO of PNE AG: "With the conclusion of this PPA, we are taking a step that is still little known in Germany. At the same time, we offer a sensible opportunity for further economic operation of wind farm projects. Since we already know the possibilities and advantages of such agreements from other markets, we can contribute this experience. We would also be pleased to make this experience available to other operators within the framework of a cooperative partnership".
About LichtBlick: LichtBlick is a green energy provider. Over one million members of the LichtBlick community have already set store in the pure energy of the pioneer and market leader for green energy and gas. With SchwarmEnergie(R), the innovative company is developing digital energy solutions for homes and businesses. LichtBlick employees 460 people and generated a turnover of EUR 700 million in 2017. Info: www.lichtblick.de
About the PNE Group The internationally operating PNE Group with its brands PNE and WKN is one of the most experienced project developers of onshore and offshore wind farms. Based on this success, the Group has developed to become a "clean energy solutions provider". From initial site exploration and implementation of approval procedures via financing and turnkey construction to operation and repowering, the Company's services encompass all the phases of developing and operating wind farms. In addition to wind energy, in the future, the Company's range of offers will include photovoltaics, electricity storage, services and the supply of clean electricity. In this context, PNE is also involved in the development of power-to-gas solutions.
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17.05.2019 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de
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|ISIN:||DE000A0JBPG2, DE000A2LQ3M9, , DE000A12UMG0,|
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