ERG has signed a power purchase agreement (PPA) for output from two wind projects in Northern Ireland totalling 70MW of capacity.
ERG has signed a contract with ElectroRoute for the distribution of renewable energy produced at the Evishagaran and Craiggore wind power plants.
The two facilities, which estimated annual output of more than 250 gigawatt hours, are at an advanced stage of construction and will go into operation by the end of 2021.
The supply will take place on a “pay-as-produced” basis with a fixed price remuneration for the entire energy output.
ElectroRoute will also guarantee the “Route to Market” service to enable delivery of the energy to the country’s power grid.
ERG CEO Paolo Merli said: “These agreements represent a further major step in the direction of the strategic objectives contained in our 2021-2025 Business Plan, which envisages the evolution towards an infrastructural model via the securitisation of revenues”.
ERG was assisted in the transaction by Santander Corporate & Investment Banking in the capacity of financial advisor.