Falck Renewables, through its UK subsidiaries, has signed some power purchase agreements (PPAs), with Sweden's Vattenfall Group.
The PPAs cover the sale, in the medium to long term, of electricity produced by three of Falck Renewables' wind farms in operation in the United Kingdom. The wind farms have a total installed capacity of approximately 105 MW.
- The West Browncastle wind farm, at Strathaven, in South Lanarkshire, Scotland, has been in activity since 2014 with 12 turbines and a combined capacity of 30 MW - equivalent to the electrical needs of 18,000 families and with a CO2 “greenhouse” reduction of 32,000 tons annually;
- The Cefn Croes wind farm at Aberystwyth in Wales (two contracts), has been active since 2005 and comprises of 39 turbines with a combined production capacity of 58.5 MW - sufficient to meet the electrical energy needs of approximately 37,000 families and with a reduction in CO2 of 66,000 tons annually. In March 2014 Cll Holdco Ltd, a part of Copenhagen Infrastructure I K/S, purchased indirectly a 49% interest in this plant from Falck Renewables;
- The Boyndie wind farm, active since 2006 is sited along Scotland’s northern coast, between Portsoy and Banff. It comprises of 8 turbines with a combined electrical production capacity of 16.65 MW, meeting the energy needs of about 10,000 families - roughly equivalent to the families populating Banff, Whitehills, Portsoy and nearby rural areas - and with a reduction in the CO2 footprint of 18,000 tons annually. In March 2014 Cll Holdco Ltd, a part of Copenhagen Infrastructure I K/S, purchased indirectly a 49% interest in this facility, from Falck Renewables as well.
For each of these wind farms a Community Fund has been set up to finance community activities favouring schooling, environmental planning and energy efficiency programs according to the needs of local residents.
Falck Renewables has also offered the residents of the areas, in which Boyndie and West Browncastle wind farms are located, the possibility to provide financial support as lenders.
Toni Volpe, Chief Executive Officer of Falck Renewables, commented:
“These contracts call for a good mix of market energy price and incentive based revenues. They also include for the first time a floor pricing mechanism which will protect Falck Renewables in case of further reductions to the energy price in the United Kingdom energy price market.”