(Boursier.com) — Lhyfe And EDP Renewables have signed a long-term contract for the supply of renewable electricity (Corporate Power Purchase Agreement or CPPA) over 15 years. Under this CPPA, Lhyfe will purchase renewable energy produced by a 39 MWac (55 MWdc) solar power plant which will be built in Germany by EDPR, through Kronos Solar EDPR. It should be connected to the network in 2025.
This electricity purchase contract is the first realization of the industrial partnership signed in 2022 between the two companies. As part of the agreement, it was agreed that EDPR would supply renewable electricity for Lhyfe’s hydrogen production sites, and that the two companies would identify opportunities to co-develop projects aimed at decarbonizing sectors. of activity where electrification is not feasible.
For Lhyfe, this CPPA is the most important ever concluded to date. It guarantees the supply of renewable energy to its future green hydrogen production sites in Germany, thus reinforcing its sustained development. In Baden-Württemberg and Lower Saxony, Lhyfe is currently building two production units with a maximum total production capacity of 8 tonnes of green and renewable hydrogen per day. This green hydrogen will supply local players for uses linked to mobility and industrial processes. This CPPA allows Lhyfe to continue strengthening its network of renewable electricity supplier partners, with the signing of two other CPPAs in 2023, and thus to guarantee competitive sales conditions for renewable hydrogen in the long term.
For EDP Renewables, this agreement is an important step because it is the first long-term corporate contract for the supply of renewable energy signed in Germany since its expansion, and also the first PPA signed with a hydrogen producer. It demonstrates EDPR’s success in obtaining new PPAs, reinforces the company’s low-risk profile and its growth strategy, based on the development of competitive projects offering long-term visibility and promoting the acceleration of the transition. energy and the decarbonization of the economy. By re-signing a long-term contract with a major client, EDPR confirms the strong development of its PPA activity with players in the utilities sector and large companies. EDPR has already secured to date more than 55% of its objective of new renewable energy production capacities over the period 2023-2026.
Portzamparc appreciates this renewed visibility on electricity prices. Enough to stay buying while aiming for a price of 7.5 euros. The stock fell 2.2% to 4.6 euros this Thursday…
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