Statkraft, Europe's largest producer of renewable power, and Deutsche Bahn have concluded further power purchase agreements (PPAs) for the supply of green power from hydropower and onshore wind farms.
From the beginning of 2027 to the end of 2034, Statkraft will supply green electricity from hydropower directly to Deutsche Bahn from its two run-of-river power plants in Langwedel and Landesbergen in Lower Saxony, Germany. Over the 8-year contract term, the Norwegian energy company will supply a total of just over 350,000 MWh of green electricity as a structured baseload profile. The wind power in turn comes from a portfolio of wind farms for which Statkraft has concluded power purchase agreements. The new PPAs with Deutsche Bahn cover an expected generation of around 147,000 MWh for the years 2024 to 2026 and ensure the economic operation of the wind turbines at an early stage. The onshore wind farms are in Lower Saxony, Hesse and Brandenburg.
Patrick Koch, Head of Origination Germany at Statkraft, comments: "These agreements shows our commitment to driving the energy transition and offering our customers flexible, customised energy solutions - be it with green electricity from various energy sources or contracts with individual structures and terms. We are proud to be working with Deutsche Bahn and look forward to expanding our successful business relationship."
Statkraft has already concluded several PPAs with Deutsche Bahn in recent years. Since last year, Statkraft has been supplying a total of 1.9 terawatt hours of green electricity from hydropower for a period of ten years as part of a cross-border PPA. In 2021, the company had supplied one year of onshore wind power from 70 wind turbines that had run out of subsidies to Deutsche Bahn.
The green power PPAs support Deutsche Bahn in becoming climate-neutral by 2040 and cutting CO2 emissions in half by 2030. Despite the turbulent market environment, Statkraft offers long-term price stability.
Statkraft - building bridges between power producers and consumers
With customised power purchase and supply contracts and the assumption of residual risks, Statkraft builds bridges between the different needs of electricity producers and consumers. This enables the continued operation of plants whose EEG subsidies have expired as well as the operation and financing of new wind and solar plants, even without EEG subsidies. At the same time, industrial and commercial customers achieve their sustainability and climate targets and can hedge against fluctuating electricity prices in the long term.
