“By signing this agreement, we are taking the next step towards implementing Bosch`s ambitious climate change agenda,” said Andree Stracke, Chief Commercial Officer Origination – Gas Supply at RWE Supply – Trading. “With its global portfolio, RWE is one of the largest generators of electricity generated from renewable energy sources. We offer customized solutions for industry and municipal services to help these customers achieve their environmental goals. RWE Renewables has signed an electricity purchase agreement (AAE) with E.ON under which E.ON will purchase 100% of the electricity generated by the Humber Gateway offshore wind farm between 2022 and 2035. These include the facility`s renewable obligation certificates (SCRs). The contract is a direct continuation of the previous agreement to supply E`s customers. ON UK in green electricity from the offshore wind farm, which is due to expire in 2022. August 6 (Renewables Now) – The renewable energy unit of the German energy group RWE AG (ETR:RWE) has signed a contract to purchase 25 MW of electricity from a Canadian solar farm. As the renewable energy sector moves into a post-subsidization market, developers and electricity producers are studying PPAs to manage transaction risks and finance projects. However, the market is still in its infancy and many companies, faced with a multitude of structurally different AAE hedging strategies, are struggling to assess what the optimal choice would be for a given project. This slows down individual agreements and can prevent accurate comparative assessment of distributors` prices and risks. German energy supplier RWE has signed an electricity purchase agreement (PPA) with Direct Energy Marketing Limited for the supply of renewable electricity from a solar facility in Canada.
RWE Renewables, the newest subsidiary of the RWE Group, is one of the world`s leading renewable energy companies. With approximately 3,500 employees, the company has onshore and offshore wind farms, photovoltaic installations and battery storage with a total capacity of about 9 gigawatts. RWE Renewables is advancing the development of renewable energy in more than 15 countries on four continents. By the end of 2022, RWE plans to invest 5 billion euros net in renewable energy and expand its renewable energy portfolio to 13 gigawatts of net capacity. In addition, the company plans to further develop wind and solar energy. The focus is on North and South America, the main markets in Europe and the Asia-Pacific region. Tom Glover, Chief Commercial Officer and UK Country Chair at RWE Renewables, said: “As a global leader in renewable energy, we strive to use our energy for sustainable living. Britain plays a key role in RWE`s strategy to expand its renewable energy business and become carbon neutral by 2040. By signing the PPA with E.ON UK, we are showing our ability to help electricity suppliers deliver CO2-free energy to their customers. The first delivery will begin shortly and all solar farms are expected to be commissioned in 2021.