Wavin Ireland has announced it has signed the “first supplier-led renewable energy CPPA in Ireland” with energy supplier Flogas Enterprise.
Electricity generated by wind farms will be used on-site at Wavin Ireland’s site as a key part of progressing their sustainability journey.
Demand for renewable CPPAs is set to grow rapidly in Ireland over the next few years as companies look to reduce their carbon footprint and seek budget certainty given the last 12 months of extremely volatile energy prices.
Flogas Enterprise business development executive Sam Osborne said: “The CPPA that we have signed with Wavin Ireland signals the beginning of a new era in renewable energy supply for large users.
“In the current environment, having the opportunity to become more environmentally conscious and gain budget certainty is invaluable for our customers.
“We are delighted to be the first supplier in Ireland to sign a supplier led CPPA for our customer and we are working on many more.
“We have defined a CPPA structure that brings our corporate energy customers and our renewable energy off-take business together seamlessly.
“CPPAs provide green energy to our customers and new routes to market for our partners (the renewable developers).”
Wavin Ireland operations director John Rowland said: “We are functioning in a time when large energy users have limited hedging options.
“In a volatile energy market, having a fixed price for the supply of electricity through a CPPA is not only good for the environment, but it is also great for budgeting.
“This solution was hedged at a price that is reflective of current market price level, but delivers budget certainty and sustainability benefits.”