wpd establishes itself as a partner for PPAs on the wind energy market in Northern Europe
Bremen (renewablepress) - wpd has successfully established itself in the Northern European market for renewable energies as a partner for direct power supply contracts, so-called Power Purchase Agreements (PPAs). In doing so, the company is building on its extensive experience with direct power supply contracts gained in numerous projects in other countries.
In Finland and Sweden in particular, wpd will supply large companies such as Google, UPM and other well-known enterprises with energy from its own wind farms. This commitment to the development of an independent and decentralized supply of green electricity ensures the long-term profitability of the wind farms without state subsidies and promotes local value creation.
The recently concluded agreement with UPM Kymmene, the world's leading producer of pulp, paper and innovative wood-based products, guarantees the purchase of most of the green electricity produced by wpd’s Karhunnevankangas wind farm, a total of almost 4 TWh, for the duration of the contract. The wind farm is being built in the municipality of Pyhäjoki in western Finland and is expected to be operational in 2022. It is planned to have 32 WTGs of the latest turbine generation with a capacity of about 6 MW each.
"It is a great success for our team in Finland that we have been able to partner with a sustainable company like UPM," says Heikki Peltomaa of wpd Finland. "UPM's long-term commitment provides a reliable investment base for our project.”
As a result of making such a sustainable commitment and developing cooperations with its partners designed for continuity, wpd has thus been able to secure and market the installation of 200 MW of green production capacity in Northern Europe to date. Additional 71 MW are already under construction and further corporate PPAs covering a project volume of about 260 MW have been closed as of today.
In addition to these projects currently being implemented, wpd has a pipeline of around 1,000 MW each in the Swedish and Finnish wind energy markets. wpd is already in talks with a number of potential partners who want a PPA to make them independent of price fluctuations on the electricity markets and contribute to the energy transition.
About wpd AG
wpd is a developer and operator of onshore and offshore wind farms with 2,200 employees worldwide, the headquarter is in Bremen. In more than 20 years, the company has realised projects with 2,200 wind turbines and a total capacity of 4,450 megawatts. On an international scale, wpd is planning projects of around 8,725 megawatts onshore, 7,250 megawatts offshore and 825 megawatts PV.
Bremen, 12 February 2020
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