Danish food packaging manufacturer Faerch Group has finalized a pioneering Power Purchase Agreement (PPA) in Hungary with international investment firm GoldenPeaks Capital, marking a significant step towards enhancing its renewable energy portfolio.
The 12-year sleeved solar PPA, covering an annual output of 15GWh from an undisclosed photovoltaic array, was facilitated with the support of marketplace operator LevelTen Energy and energy supplier Reel.
Faerch Group's Chief Financial Officer, Tom Sand-Kristensen, expressed pride in the collaboration: “Faerch Group is proud to work with GoldenPeaks Capital, LevelTen Energy, and Reel on this deal. This 15GWh/year, 12-year sleeved solar PPA will provide reliable, cost-effective renewable energy directly to Faerch sites in Hungary and it is another significant milestone in our Renewable Energy Strategy that seeks to close all our sites with additional renewable energy via PPAs.”
GoldenPeaks Capital's Founder and President, Adriano Agosti, highlighted the environmental impact of the agreement: “We are proud to contribute to the green footprint of Faerch Group and to team up with LevelTen Energy on this. The PPA will empower the company to enhance their share of renewable energy across their operations, leading the change for renewable energy in the region.”
Anders Engtoft Meldgaard, Chief Commercial Officer and Co-founder of Reel, emphasized their role in facilitating the deal: “We're proud to have supported Faerch in closing this first of its kind PPA in Hungary. This deal is perfectly aligned with Reel's mission of creating a new way for companies to buy electricity that accelerates the renewable energy transition.”
Flemming Sorensen, Vice President of Europe at LevelTen Energy, underscored the significance of the collaboration: “LevelTenEnergy was proud to lend our expertise to this landmark deal. We are pleased that LevelTen's Energy Marketplace was able to connect these industry-leading companies and enable them to sign a PPA in a growing market and a very competitive environment.”
