The output of an unidentified PV array is covered by a 12-year solar deal.
The Danish food packaging manufacturer Faerch Group and the global investment firm GoldenPeaks Capital have finalized a PPA agreement in Hungary.
The 12-year sleeves solar PPA, which was backed by energy supplier Reel and marketplace operator LevelTenEnergy, covers 15GWh/year annually from an undisclosed PV array.
This partnership represents one of the first PPA agreements in Hungary and the biggest to date.
Chief financial officer of Faerch Group Tom Sand-Kristensen stated, “Faerch Group is proud to work with GoldenPeaks Capital, LevelTen Energy, and Reel on this deal.”
“This 12-year sleeved solar PPA with a 15GWh annual capacity will supply dependable and reasonably priced renewable energy directly to Faerch sites in Hungary. It is another important step towards our Renewable Energy Strategy, which aims to close all of our sites with additional renewable energy through PPAs.”
“We are proud to contribute to the green footprint of Faerch Group and to team up with LevelTen Energy on this,” stated Adriano Agosti, founder and president of GoldenPeaks Capital.The PPA will enable the business to increase the proportion of renewable energy used in all aspects of its operations, setting the standard for renewable energy in the area.
“This demonstrates the increasing need for green energy solutions in Hungary.”
Anders Engtoft Meldgaard, co-founder and chief commercial officer of Reel, stated: “We are proud to have supported Faerch in closing this first of its kind PPA in Hungary.”This agreement fully supports Reel’s objective of giving businesses a new means of purchasing electricity that speeds up the switch to renewable energy sources.
Flemming Sorensen, vice president of LevelTen Energy’s European division, continued, “LevelTen Energy was proud to lend our expertise to this landmark deal.”We are happy that these market-leading businesses were able to sign a PPA in a highly competitive and expanding market thanks to LevelTen’s Energy Marketplace.Seeing and participating in PPA’s expansion in nations like Hungary has been wonderful. We are eager to work with our friends at GoldenPeaks, Reel, and Faerch Group to further support its advancement.
