- Shell Energy Europe has signed a PPA for the largest solar project in Germany with 600 MW capacity
- The 15-year PPA will come into effect once the project is online by 2023-end
- Held by HANSAINVEST, the facility is to be operated by MOVE ON Energy
- Microsoft has separately signed up to receive 323 MW of power from Shell
Shell Energy Europe Limited has turned offtaker for a 600 MW solar power plant in Germany, calling it the country’s ‘largest’ PV project, under a contract with HANSAINVEST Real Assets. Out of this, Microsoft has already signed up to procure 323 MW.
Acting through its agency Shell Trading and Shipping Company Limited, Shell Energy Europe is into the business of offtaking renewable energy from wind and solar farms in mainland Europe and the UK and selling the same to business consumers like Microsoft.
A subsidiary of German insurance company SIGNAL IDUNA, HANSAINVEST is investing in the Leipzig located Witznitz Energy Park that’s coming up on the site of a former opencast coal mine.
MOVE ON Energy is in charge of construction and is scheduled to commission it by the end of 2023. It will also operate the facility once it is online. That’s when the 15-year power purchase agreement (PPA) with Shell will also kick into effect.
The Witznitz Solar Park is expected to generate 575 GWh annually.
European Vice President at Shell Energy Trading, Tom Summers said, “Solar power purchase agreements enable us to combine our strengths in power trading and optimization with our existing customer relationships to deliver more value with less emissions.”