Vattenfall and Evonik agree on long-term solar-based electricity contracts

Vattenfall and the specialty chemicals company Evonik have concluded new long-term solar-based electricity supply contracts. From 2025, two Vattenfall solar parks in Schleswig-Holstein, Germany, will supply Evonik with around 120 gigawatt hours of solar power per year for chemical production.

“Germany is the fastest growing market for renewable energies in Europe. We see a wide range of growth opportunities here for the development and marketing of our solar, onshore and offshore projects. As the project with Evonik exemplifies, electricity partnerships with industry play a decisive role here,” said Martijn Hagens, Head of Business Area Markets at Vattenfall.

For Evonik the contracts are intended to consciously use more renewable electricity.

The Power Purchase Agreements stipulate that Vattenfall will supply Evonik with electricity from two solar parks in Schleswig-Holstein in northern Germany. The solar parks are due to be completed and connected to the grid in 2025 with a total capacity of 120 megawatts peak (MWp). The agreed electricity volume of around 120 gigawatt hours (GWh) per year corresponds to the annual demand of around 35,000 households and displaces more than 50,000 tonnes of CO2 per year in the German electricity mix.

The contracts have a term of ten years and fixed conditions (“Power Purchase Agreement”, PPA).

Vattenfall is a leading European energy company, which for more than 100 years has electrified industries, supplied energy to people’s homes and modernised living through innovation and cooperation. The company works to enable the fossil freedom that drives society forward. Vattenfall’s goal is net zero emissions across its entire value chain by 2040 at the latest.