Green Genius and Respect Energy signs 41 MW PPA in Poland
Renewable energy company Green Genius, operating in 8 European markets, has signed a 41 MW PPA with Respect Energy, of which 16 MW covers a 5-year period, while the rest of 25 MW is for a 10-year. It is the second PPA deal between the two parties since October 2022.
The agreement will enter into force on April 1st, 2024. In alignment with the 5-year 16 MW contract, Green Genius will provide 18 GWh of green electricity annually. And the rest 10-year 25 MW agreement will ensure Respect Energy receives another 29 GWh yearly. Altogether, it will save ~290 000 t CO2 during the entire PPAs period.
“Long-term PPAs play a crucial role in managing future markets and their risks. Moreover, we foresee that sustainability and stability in the European markets are directly related. Therefore, we are delighted to have reached a significant milestone in developing renewables across borders”, – said Povilas-Emilis Čėsna, Head of trading and Origination at Green Genius. – “These where the last PPAs in our 2023 portfolio and now we are entering construction phase in Poland. Additionally, Green Genius is working on further land acquisition for the future projects in Poland.”
“We are delighted that another PPA agreement signed with Green Genius in the recent months will not only strengthen the cooperation between our companies but – most importantly – will ensure stable energy delivery to our customers. With the limited green energy supply and the current market instability, PPA agreements are one of the cornerstones of the future green and zero-carbon economy“, – says Sebastian Jabłoński, Chairman of the Board of Respect Energy Holding.
In October 2022, Green Genius and Respect Energy announced the 10-year PPA agreement, comprising 21 MW. It will supply 25 GWh of green energy annually to Respect Energy and its customers, allowing it to save the emission of more than 180 000 tonnes of CO2 during its run.
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