Shell Energy Europe Ltd. said Sept. 7 it signed a 15-year power purchase agreement (PPA) for solar power from Witznitz Energy Park, the largest solar project being developed in Germany.
The PPA with asset owner HANSAINVEST Real Assets is for 600 megawatts (MW) of capacity, Shell said in a news release. The energy company said it will sell 323 MW to Microsoft Corp. as part of a separate agreement. Both companies are working toward net-zero ambitions. Microsoft has committed to a 100% supply of renewable energy by 2025, while Shell is targeting net-zero emissions by 2050.
“We are continuing to strengthen our low-carbon power portfolio,” Tom Summers, European vice president at Shell Energy Trading, said in the release. “Solar power purchase agreements enable us to combine our strengths in power trading and optimization with our existing customer relationships to deliver more value with less emissions.”
The solar project, being constructed by Move On Energy at the former site of a coal mine near Leipzig, is expected to start generating electricity by year-end 2023.
Recommended Reading
Third Suriname Find for Petronas, Exxon Could Support 100,000 bbl/d FPSO
2024-05-17 - A recent find offshore Suriname in Block 52 by Petronas and Exxon Mobil could support a 100,000 bbl/d FPSO development, according to Wood Mackenzie.
Deepwater Roundup 2024: Americas
2024-04-23 - The final part of Hart Energy E&P’s Deepwater Roundup focuses on projects coming online in the Americas from 2023 until the end of the decade.
E&P Highlights: April 29, 2024
2024-04-29 - Here’s a roundup of the latest E&P headlines, including a new contract award and drilling technology.
Exxon Mobil Green-lights $12.7B Whiptail Project Offshore Guyana
2024-04-12 - Exxon Mobil’s sixth development in the Stabroek Block will add 250,000 bbl/d capacity when it starts production in 2027.
Pitts: Heavyweight Battle Brewing Between US Supermajors in South America
2024-04-09 - Exxon Mobil took the first swing in defense of its right of first refusal for Hess' interest in Guyana's Stabroek Block, but Chevron isn't backing down.