Shell Signs 15-year Agreement with Largest Solar Project in Germany
/LONDON, September 7, 2023, 11:00 BST, Shell/ Shell Energy Europe Limited (“Shell”) has signed a 15-year power purchase agreement with HANSAINVEST Real Assets to secure 600 megawatts (MW) of capacity at Germany’s largest solar project. Microsoft has already secured 323 MW of this renewable energy capacity from Shell.
The Witznitz Energy Park, which is being constructed by MOVE ON Energy on the site of a former opencast coal mine near Leipzig, eastern Germany, is expected to start generating electricity by the end of 2023.
“We are continuing to strengthen our low-carbon power portfolio,” Tom Summers, European Vice President at Shell Energy Trading, said. “Solar power purchase agreements enable us to combine our strengths in power trading and optimisation with our existing customer relationships to deliver more value with less emissions."
Shell Energy Europe has separately agreed to sell the power generated by 323 MW of the solar capacity to Microsoft Corporation, helping Microsoft to meet its commitment of having a 100% supply of renewable energy by 2025.
By providing more and cleaner energy solutions to its customers, Shell aims to profitably transition into a net-zero emissions energy business by 2050.
About Shell Energy Europe
Shell Energy Europe is present in 14 European power markets, offtaking renewable power from wind farms and solar parks in mainland Europe and the UK and providing business customers with innovative, reliable and cleaner energy solutions to help them navigate through the energy transition. Shell Energy Europe Limited acts through its agent, Shell Trading and Shipping Company Limited.
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