UK's Centrica signs power purchase agreements with Finnish renewables developer
10/12/2020 11:30
OSLO, Dec 10 (Reuters) - British utility Centrica CNA.L
has signed two long-term power purchase agreements (PPAs)
covering 345 megawatts (MW) of capacity with Finnish renewables
developer and fund manager Taaleri Energia TAALA.HE , it said
on Thursday.
Under the first five-year deal starting with immediate
effect, Centrica’s trading unit will offtake Taaleri’s power
production from 13 Finnish renewables sites totalling 312 MW and
sell it to the market, a company spokesman told Reuters.
Centrica also signed a 10-year PPA with Taaleri starting in
2023 for a 33 MW Norwegian wind power project, where it would
not buy the power outright but market it on behalf of the
owners, he added.
The company did not reveal financial details for the PPAs.
PPAs have become a key part of renewable energy project
development, providing a reliable revenue stream for asset
owners as governments have closed or are closing subsidy schemes
as wind and solar power technologies mature.
They typically involve the owner of an asset selling their
power to a third party or directly to a consumer.
(Reporting by Nora Buli; editing by Nina Chestney)
((Nora.Buli@thomsonreuters.com; (+47) 21 04 05 56; Reuters
Messaging: nora.buli.thomsonreuters.com@reuters.net))