Danish food packaging manufacturer the Faerch Group has closed a PPA deal in Hungary with international investment company GoldenPeaks Capital.
The 12-year sleeved solar PPA covers 15GWh/year per annum from an unnamed PV array and was supported by marketplace operator LevelTenEnergy and energy supplier Reel.
The collaboration marks one of the first PPA deals in Hungary and to date the largest of its kind.
“Faerch Group is proud to work with GoldenPeaks Capital, LevelTen Energy, and Reel on this deal,” said Faerch Group chief financial officer Tom Sand-Kristensen.
“This 15GWh/year, 12-year sleeved solar PPA will provide reliable, cost-effective renewable energy directly to Faerch sites in Hungary and it is another significant milestone in our Renewable Energy Strategy that seeks to close all our sites with additional renewable energy via PPAs.”
GoldenPeaks Capital founder and president Adriano Agosti said: “We are proud to contribute to the green footprint of Faerch Group and to team up with LevelTen Energy on this.
“The PPA will empower the company to enhance their share of renewable energy across their operations, leading the change for renewable energy in the region.
“It is another example of Hungary’s growing demand for green energy solutions.”
Reel chief commercial officer and co-founder Anders Engtoft Meldgaard said: “We’re proud to have supported Faerch in closing this first of its kind PPA in Hungary.
“This deal is perfectly aligned with Reel’s mission of creating a new way for companies to buy electricity that accelerates the renewable energy transition.”
Vice president of Europe at LevelTen Energy Flemming Sorensen added: “LevelTenEnergy was proud to lend our expertise to this landmark deal.
“We are pleased that LevelTen’s Energy Marketplace was able to connect these industry-leading companies and enable them to sign a PPA in a growing market and a very competitive environment.
“It’s been great to see and be a part of PPA growth in countries like Hungary. We look forward to continuing to support its advancement alongside our friends at Faerch Group, GoldenPeaks, and Reel.”