A new multi-year PPA has been signed between European Energy and 595 Solutions GmbH. The power will come from European Energy’s German wind portfolio.
European Energy and 595° are pleased to announce that they have entered into a multi-year PPA to supply green power from European Energy’s German wind portfolio to 595°’s production facilities in Germany.
The agreement amounts to 80 GWh and will span over five years.
The agreed quantity allows 595 to cover 100% of its German electricity consumption, thereby providing a major building block to the C02 neutrality achieved by 595°’ in 2022.
This deal shows the financial viability of European Energy’s portfolio of wind parks where the German state-run EEG-subsidies are no more. “595° are thus directly contributing to keeping green assets in operation after the initial state support period is over”, says Gregor McDonald, Head of Energy Trading at European Energy.
595° in turn are delighted that they are now operating a Co2 neutral light metal foundry in Germany, “as foundries are not only businesses with a very high energy consumption, we are also operating in a country with some of the highest energy costs in Europe”, says Arne Amann, COO of 595°.
About European Energy
European Energy develops, finances, constructs and operates wind and solar farms as well as large-scale PtX plants. Based in Copenhagen, Denmark, the company has a strong track record as a renewable energy operator across its 24 countries of operation. Founded in 2004, European Energy has a development pipeline of more than 20 GW of renewable energy projects and is currently constructing more than 1.2 GW of new energy capacity.
595° is a leading European supplier of lightweight aluminium and magnesium components. Around 550 employees are heavily involved in light weighting parts for the automotive, aerospace and industrial sectors. From consulting and engineering to tool design and the final product, 595 offers the entire chain of services to its customers. To find out why 595° Celsius is the magic number, visit www.fiveninefive.com.