Green energy company GoldenPeaks Capital has signed a power purchase agreement (PPA) in Hungary with Danish food packaging company Faerch Group. Under the 12-year physical pay-as-produced PPA, the offtaker is expected to receive 15 GWh a year, or around 180 GWh over the duration of the contract.
This is one of the first PPAs in Hungary and it was supported by PPA marketplace operator LevelTen Energy and next-generation electricity supplier Reel. The latter said in a LinkedIn post that the contract will ensure the construction of a new solar park to match Faerch’s energy consumption.
Faerch Group CFO Tom Sand-Kristensen said the PPA will provide reliable, cost-effective renewable energy directly to Faerch sites in Hungary. it is another significant milestone in company’s Renewable Energy Strategy that seeks to close all its sites with additional renewable energy via PPAs.
