ElectroRoute secures landmark Power Purchase Agreement in Northern Ireland

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ElectroRoute secures landmark Power Purchase Agreement in Northern Ireland

 

The landmark agreements will support Northern Ireland’s ambitious climate targets

 

26th July 2021: Leading Irish energy trading and services firm ElectroRoute is pleased to announce that it has entered into two long term Power Purchase Agreements (PPAs) in Northern Ireland with Evishagaran Wind Farm Limited and Craiggore Energy Limited, which are being developed by ERG, a leading Italian independent producer of energy from renewable sources.

The two wind farms have a total installed capacity of 70MW and estimated annual output of over 250GWh capable of producing enough electricity to power approximately 71,500 homes annually and will be operational by the end of 2021. This development will bring the total portfolio under management by ElectroRoute to approximately 1,500MW.

This Power Purchase Agreement is the first to be announced on the island of Ireland whereby a trading entity is putting in place a long term PPA with a developer without any support from a government subsidy scheme. These forms of market-based Power Purchase Agreements are expected to have a significant role to play in ramping up the delivery of renewable energy projects across the island of Ireland and meeting ambitious renewable targets.

ElectroRoute will provide the physical trading and route to market services for the sites by ensuring 24/7 access to the market.

Commenting on the announcement, ElectroRoute CEO Ronan Doherty said, “We are delighted to announce our first two PPAs with ERG which represent a major turning point for ElectroRoute as we invest in new solutions to support the global clean energy transition. Our vision is to make “net zero” a reality and we are committed to supporting the decarbonisation of the energy sector on the island of Ireland. To this end, we recognise the importance of providing independent, long term and bankable Power Purchase Agreements to renewable and battery storage assets across all of our markets.”

“We are targeting growth in this area with particular focus in Ireland, the UK, Spain and Italy. The potential market for renewable PPAs in Ireland is significant and growing and we aim to engage proactively with corporate buyers to ensure our solutions continue to evolve and support a clean energy future.”

 

ElectroRoute Contacts:

Caoimhe Giblin, Commercial Director at ElectroRoute – Mob: +353 87 918 9005 / e-mail: caoimhe.giblin@electroroute.com

 

ERG Contacts:

Emanuela Delucchi Chief ESG, IR & Communication Officer – tel. + 39 010 2401806 – e-mail: edelucchi@erg.eu

Anna Cavallarin Head of External Communication – tel. + 39 010 2401804 mob. + 39 3393985139 e-mail: acavallarin@erg.eu

Matteo Bagnara Head of Investor Relations – tel. + 39 010 2401423 e-mail: ir@erg.eu

www.erg.eu – @ergnow