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Centrica Signs Subsidy-free Solar PPA With German Retail Supplier
August 26,2019 Centrica Energy Trading and retail supplier Enovos Germany have signed a Power Purchase Agreement (PPA) that enables a German photovoltaic (PV) installation to operate without a subsidy. Centrica and Enovos have agreed to a 10-year contract where Centrica will supply the electricity generated from the 4MW installation to Enovos who will sell the renewable electricity to its industrial customers. The installation located in the North Western part of Germany started commercial operation in May 2019. "This project is a first step in the direction of building a portfolio of unsubsidised projects. We are now fast reaching a tipping point of being able to support the roll out of subsidy-free renewable power in significant quantities and we are excited to play a key role in enabling that to happen. Accessing subsidy-free renewable power in a liberalised market makes PPAs attractive for corporations, industrials and utilities with ambitious climate goals. For both the developers and for us as a trading company this clearly is the future of renewables in Europe," said Jens Tang, Head of Route-to-Market and Origination in Centrica Energy Trading. Centrica Energy Trading will manage all balancing, forecasting and dispatching of the electricity generated by the solar installation. Enovos will integrate the production to supply their customers in different fields of industry, multi-site companies and municipal utilities.
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