Ashurst advises Greenovative on the conclusion of a green power supply agreement (corporate PPA)
03 August 2023
03 August 2023
Ashurst advised Greenovative GmbH on the conclusion of a long-term green power supply agreement (PPA) with a term of 5 years. The subject of the corporate PPA is the supply of a total of 145 GWh of green electricity from a solar park portfolio of Greenovative GmbH in the period from January 2024 to December 2028.
The solar parks located in Bavaria, for whose development, construction and long-term operation Greenovative GmbH is responsible, have a total installed capacity of around 35 MWp. Some of the solar parks are already in operation, the commissioning of the other solar parks is to follow by the end of 2023. The annual amount of electricity produced then corresponds to the electricity consumption of around 11,000 four-person households.
Greenovative is a fully integrated, independent photovoltaic company (developer, EPC, IPP) with headquarters in Nuremberg. Its strategy is to plan, obtain approval for, install and operate large-scale rooftop photovoltaic systems and solar parks in Germany on a permanent basis.
Ashurst's German renewables team regularly advises investors and operators of renewable energy plants on the marketing of green power via PPAs as well as buyers on the procurement of green power via PPAs and the implementation of net zero strategies.