Signed two PPA with ENGIE for two new wind farms in Scotland – EQ Mag Pro
Genoa : ERG, the leading independent producer of energy from renewable sources, through its subsidiaries Sandy Knowe Wind Farm Ltd and Creag Riabhach Wind Farm Ltd in UK, has reached an agreement with ENGIE UK Markets Ltd, an ENGIE Group company, world leader in the energy sector, for the signing of two ten-year Power Purchase Agreements (PPAs) for the off-take of renewable energy produced by ERG’s wind farms currently under construction in Scotland.
The two farms – Sandy Knowe and Creag Riabhach – with a total installed capacity of 179 MW and an estimated annual production of around 530 GWh, will be gradually operational by the second half of 2022. The agreement will cover all the production of the two farms.
Paolo Merli, CEO of ERG, commented: “Our recently presented business plan anticipates reaching a figure of 85-90% of the Group EBITDA through government auctions or PPAs as tools for the
securitisation of revenues, in support of the new installed capacity that will be gradually operational. After the agreements signed during 2021 in France, Italy and Northern Ireland, for a total of 0.7 TWh, the PPA with ENGIE in Scotland is another important step forward in our business model strategy”.
Source: erg
