Osborne Clarke has advised MDAX-listed Encavis AG on its 10-year Power Purchase Agreement (PPA) with Allego.
Hamburg-based wind and solar farm operator Encavis has integrated a 105 MWp ground-mounted PV plant in Mecklenburg-Vorpommern into an existing long-term supply contract to supply Dutch e-mobility charging network operator Allego under the pay-as-nominated PPA. Under this landmark agreement, Allego will purchase over 100 million kWh of photovoltaic electricity per year, including the corresponding guarantees of origin. This will enable Allego to serve almost 1.8 million charging operations per year, provided the electric vehicles have batteries with an average capacity of 60 kWh.
The cooperation with Encavis marks an important step for Allego, as it is the first PPA of this magnitude for the company. The Dutch company has ambitious goals: to cover 80 per cent of the electricity demand of its pan-European charging network with more than 34,000 charging points in the DACH region, the Benelux countries, France, Italy, Sweden, Denmark, Spain, Portugal and the UK, through PPAs.
Encavis AG is a producer of electricity from renewable energies listed on the MDAX of Deutsche Börse AG. As one of the leading independent power producers (IPP), Encavis acquires and operates (onshore) wind and solar farms in twelve European countries. The sustainable power generation assets generate stable revenues through guaranteed feed-in tariffs (FIT) or long-term power purchase agreements (PPA). The Encavis Group's total generation capacity is currently more than 3.5 gigawatts (GW).
Osborne Clarke provides holistic advice in the energy sector with a focus on renewable energy, including transactions, project finance, disputes, regulatory and contractual matters, with a particular focus on providing comprehensive advice on PPAs in all constellations (utility PPA, corporate PPA, financial PPA) and perspectives (project developer, plant operator, financier, purchaser).
The Osborne Clarke team advising Encavis consisted of Dr Daniel Breuer and Dr Marleen Rheker (both Energy in Cologne).