Centrica Energy Trading, a subsidiary of Centrica PLC, has signed a long-term power purchase agreement (PPA) with Finnish renewable energy developer Taaleri Energia for procuring renewable power from the latter’s assets in Finland. As part of a five-year agreement, Centrica Energy Trading will buy power from Taaleri Energia’s 312 MW of operational renewable power portfolio spread across 13 sites in Finland. This is Centrica’s first corporate PPA with Taaleri Energia and is a part of Centrica’s commitment to supporting the growth of sustainable energy systems across Europe though providing route-to-market services.
Moreover, as part of another agreement, Centrica Energy Trading will be responsible for the long-term trading and balancing for one of Taaleri Energia’s Norwegian wind projects with an installed capacity of 33 MW. This is a 10-year agreement and is part of a larger European renewable corporate PPA. In this case Centrica will provide supply services for the offtaker.
Centrica is a leading international energy services and solutions provider, serving around 13 million customers across the UK, Ireland, North America and continental Europe. Energy Marketing and Trading is the trading and optimisation arm of Centrica plc. It provides energy management and optimisation services to businesses, in addition to managing commodity risk and providing wholesale market access for the Centrica Group. The company has 14 GW of capacity under contract in Europe, more than 80 per cent of which is renewable assets.
Taaleri Energia is a Helsinki based renewables fund manager and developer that manages five renewable energy investment funds and has a 1.6 GW portfolio of wind and solar assets. The company is currently investing from the Taaleri SolarWind II fund which invests in utility-scale ready-to-build wind and solar assets in Europe and in the US. Taaleri SolarWind II fund is expected to finance approximately 850 MW of renewable energy capacity.