Vattenfall and Evonik Forge Green Partnership with German Solar PPA

• Vattenfall and Evonik join forces in a long-term electricity supply contract, harnessing the power of solar energy to drive sustainability and investment in Germany's booming renewable market.

Vattenfall, a Swedish power company, has signed a long-term electricity supply contract with German specialty chemicals company Evonik. Under the agreement, Vattenfall will supply around 120GWh of solar power per year to Evonik from two solar farms in Schleswig-Holstein starting in 2025. The two solar farms will have a combined capacity of 120MW and are scheduled to be completed and connected to the grid in 2025. The partnership aims to provide investment security, security of supply with green electricity, and risk diversification for both companies.

Germany is the fastest-growing market for renewable energies in Europe, according to Martijn Hagens, responsible board member and head of the markets division at Vattenfall. The collaboration with Evonik is seen as an opportunity for Vattenfall to develop and market its solar, onshore, and offshore projects. Evonik, on the other hand, is working towards its sustainability strategy and aims to convert its externally sourced electricity to 100% green by 2030. The company has already concluded supply contracts for green electricity from wind power and is looking forward to major supply contracts for solar power in 2024.

What is the purpose of Vattenfall's long-term electricity supply contract with Evonik in Germany?

• The purpose of Vattenfall's long-term electricity supply contract with Evonik in Germany is to provide investment security and risk diversification for both companies.
• Vattenfall will supply around 120GWh of solar power per year to Evonik from two solar farms in Schleswig-Holstein starting in 2025.
• The two solar farms will have a combined capacity of 120MW and are scheduled to be completed and connected to the grid in 2025.
• The partnership aims to ensure security of supply with green electricity for Evonik, as the company works towards its sustainability strategy.
• Germany is the fastest-growing market for renewable energies in Europe, making it an attractive market for Vattenfall to develop and market its solar, onshore, and offshore projects.
• Evonik aims to convert its externally sourced electricity to 100% green by 2030 and has already concluded supply contracts for green electricity from wind power.
• Evonik is looking forward to major supply contracts for solar power in 2024, further supporting its sustainability goals.