What is a Corporate Power Purchase Agreement?
A Corporate Power Purchase Agreement is an agreement between a producer of renewable energy such as a wind and/or solar farm and one or more consumers. The agreement ensures that the consumer does not have to purchase the generated power on the energy market, but can purchase it directly from the solar and/or wind farm. As a result, both the producer and the consumer benefit from a more stable energy price compared to power prices on the day-ahead market. In addition, the consumer is guaranteed that they buy the generated electricity from the respective facility at the time of actual generation.
Michiel Langezaal, co-founder and CEO of Fastned: “For Fastned, it is important that we provide our customers now and in the future with sufficient sustainably generated power at a stable price. As the number of electric vehicles on the road grows, so does the demand for fast charging. This agreement brings supply and demand together and contributes to a more sustainable future and helps us accelerate the transition to electric driving.”
Role of Scholt Energy
Business Energy Partner Scholt Energy is responsible for the entire handling of the CPPA between Fastned and GLP. To link a producer to a consumer, a Balance Responsible Party (BRP) is necessary. As a BRP, Scholt Energy regulates the purchase and sale of electricity on the various energy markets on a daily basis for both producers and consumers. They ensure that the production profile of the renewable production plant is 'sleeved' into the consumer's off-take profile.
Michiel van der Steen, Senior Energy Transition Specialist at Scholt Energy: “We are the link between producer and consumer and ensure that the generated electricity is directly purchased by Fastned. Through the related GOOs, Fastned is allowed to claim that they purchase the generated electricity directly from GLP's solar installation. From our various market roles, we also utilise the flexibility of the solar farm by deploying it in the energy and balancing markets. This offers advantages for the customer, producer and grid operator and in this way we contribute to the energy transition.”
Solar park at GLP Europe
GLP Europe's solar park, G-park Zevenaar, covers an area of over 16 football fields and produces 15 GWh of electricity annually. The solar installation has an installed capacity of 16.2 MWp and saves 5,000 tons of CO2-emissions per year at the current level of carbon intensity on the Dutch electricity grid.
Stefano Fissolo, Senior Director at GLP Clean Energy for Europe said, "The signing of this PPA agreement with Fastned follows our recent PPA announcements in the Netherlands and Spain and maintains the momentum in our clean energy programme and in particular our rooftop PV programme on logistics buildings. This new agreement is particularly pleasing as our renewable power will not only support Fastned directly, but also their customers who are helping to accelerate the energy transition through clean electric mobility, helping to drive a wider societal transition towards a more sustainable future".
Mike Dusseldorp, Head of PPA and Energy Markets at Ecorus said, "Our active role in this groundbreaking deal highlights our expertise in enterprise solar projects and our commitment to sustainable energy practices. We are proud to partner with Fastned, GLP and Scholt Energy to contribute to this transformative initiative."
About Fastned, Scholt Energy & GLP
Fastned
Fastned is on a mission to accelerate the transition to electric mobility. Since 2012, we’ve been at the forefront of European charging infrastructure development, building and operating a rapidly growing network of iconic fast charging stations. Our yellow, nature inspired stations create a welcoming environment for drivers during the 10-15 minutes it takes to charge up to 300 km of range. By offering Europe’s most reliable, convenient and joyful charging experience, we aim to inspire millions to drive on solar and wind energy so that together we can curb climate change. Fastned is listed at Euronext Amsterdam (AMS: FAST).
Scholt Energy
Scholt Energy has been operating as an energy supplier in the business market since 2005. The company supplies electricity and gas to companies through a smart purchasing concept and supports companies in applying sustainable solutions such as sustainable energy purchasing, energy storage, curtailment and charge management. Scholt Energy has grown into a major player in the international market with locations in the Netherlands, Belgium, Germany and Austria. Together with more than 320 employees, Scholt Energy strives for climate-neutral energy for all companies. The company currently facilitates twelve different CPPA projects in the Netherlands. This links 58 different customers directly to twelve different wind and solar farms.
GLP
GLP is a leading global business builder, owner, developer and operator of logistics real estate, data centers, renewable energy and related technologies. GLP’s deep expertise and operational insights allow it to build and scale high-quality businesses and create value for its customers. GLP owns and operates assets and businesses in 17 countries across Asia, Europe and the Americas. GLP Capital Partners, a global alternative asset manager with approximately $126 billion in assets under management as of 31 December 2023, is the exclusive investment and asset manager of GLP.
GLP is committed to a broad range of environmental, social and governance (ESG) commitments that elevate our business, protect the interest of our stakeholders, support our employees and customers and enhance our local communities. Learn more at glp.com/global
Our European operating portfolio consists of more than 9.5 million SQM across the strategic logistic markets, which is leased to blue chip customers such as Amazon, DHL and GXO Logistics. In addition, GLP Europe has a prime land bank which allows for the development of an additional 3 million SQM. To learn more about our European operations, please go to eu.glp.com