The renewable energy arm of BayWa is to issue what it says is Europe’s first-ever tender initiated by a developer for corporate power purchase agreements (CPPA), totalling 10 terawatt-hours over 10-year contracts.
The electricity will come from a portfolio of renewable projects located in Germany and Spain.
The tender will take place in Autumn 2022 and will see the project’s total output shared with several off-takers, each looking to meet their energy demands with a reliable source of renewable power.
The tender’s terms and principles are currently being finalised and further information will be shared by BayWa r.e. later this year.
BayWa r.e. head of PPA Daniel Parsons said: “This is truly an unprecedented time for energy markets across Europe.
“Corporates are facing price spikes and increasing uncertainty, and at the same time they want to play an active role in tackling the climate crisis.
“Renewable energy is the only answer, and long-term PPA contracts are a key tool to achieve reliable electricity supply and to enable more renewable energy.
“It’s brilliant that we’re now able to introduce a tender process to our PPAs in Spain and Germany.”
BayWa r.e. global director of solar projects Benedikt Ortmann said: “We want to make green electricity as accessible as possible.
“Our PPA tender is promoting the energy transition for commercial and industrial customers, which are on the lookout for affordable and reliable green energy supply.
“At BayWa r.e. we are playing an integral role in this transition.”