The electricity supplier Reel has entered into its first power purchase agreement (PPA), under which Reel will act as a facilitator of a new solar power plant in Fårvang, Silkeborg, with a capacity of 3 MWp. The solar power plant, which is scheduled to commence operating in February 2024, will deliver additional electricity to seven Danish companies.
Reel has entered into the PPA with Groeningen Energy for a term of five years. Reel will act as the electricity provider between Groeningen Energy and the seven customers. Reel has developed an optimising algorithm to analyse its customers’ historical energy consumption on an hourly basis. By using this software, Reel is able to adapt and tailor its customers’ PPAs to the specific needs of the customers.
Our Renewable Energy Team has provided legal and strategic advice to Reel on the drafting of PPAs and on developing its company structure and other energy-related matters. Accura has worked closely with Reel since the establishment of the company and in relation to the conclusion of the PPA with Groeningen Energy to ensure the necessary balance between the legal and commercial aspects of the agreement.
Accura’s Renewable Energy Team has vast experience in assisting with the drafting, negotiation and conclusion of PPAs on both a national and global level.