Statkraft closes its first PPA in France

Statkraft closed its first PPA (Power Purchase Agreement) under the new French support mechanism for renewable energies. The company will purchase power and capacity certificates from the wind farm Eole Source de la Sensee Hamelincourt in the North of France. The 6.15 MW wind farm is owned by TTR Energy, an investment fund investing in renewables.

We are very proud to contribute to the integration of intermittent renewable energy in this young and fast developing market. With our expertise and experiences as a leading PPA provider in Germany, Scandinavia and the UK we are a reliable partner for the French market players in the transition to a market based system,” Dale adds.

The French market is one of the largest power markets in Europe and has ambitious targets for the development of renewable energies. As of 1 January 2016 the new regime “complément de rémunération”, a market-based mechanism, has been replacing the existing feed-in tariff scheme. The new regime is a contract for difference mechanism similar to the systems in Germany and the UK.

Since the publication of the applicable regulation in December 2016, market players have been able to conclude business under the new regime. Renewable producers are obliged to sell their production on the wholesale electricity market.

Image Source: Statkraft