Respect Energy and PVE Group with PPA agreement until 2035

Respect Energy and PVE Group have signed a Power Purchase Agreement (PPA) for more than 10 years. As a part of the agreement, PVE Group will deliver almost 63 GWh of green energy per year to Respect Energy and its customers.

The agreement between Respect Energy and companies being part of PVE Group had entered into force at the beginning of August and will run until 2035. Respect Energy will receive almost 63 GWh of green energy annually for its customers.

The consistent development of our portfolio based on long-term PPAs is proof of a responsible policy aimed at providing price-stable energy for our customers. We are pleased that our cooperation with the PVE Group has led to the signing of this important agreement, under which energy from solar power plants located in western Poland will be supplied to Respect Energy and our customers until 2035 – emphasises Łukasz Jankowski, Head of PAN-EU Origination and EC Office at Respect Energy.

The energy that is part of the PPA comes from eleven solar power plants managed by companies from the PVE Group. The total capacity of the installations located in three voivodeships (zachodniopomorskie, lubuskie and wielkopolskie) is 57.26 MW.

The long-term PPA with Respect Energy is an important step in the development of the PVE Group in the IPP (Independent Power Producer) model. We thank the Respect Energy team for their trust. Our cooperation is proof of the highest quality and cost-effectiveness of the RES projects implemented in the PVE Group. It will provide us with secure revenues for the next 10 years and enables us to prepare further exceptional investments. We are continuously developing hundreds of projects in the three complementary technologies of PV, wind and BESS supporting Poland’s energy transition. – said Adnan Qaraqish, Board Member at PVE Development, part of the PVE Group.

Financing for the construction of these collaborative projects is provided by Bank Pekao.

Respect Energy S.A. is an energy company based in Warsaw, with entirely Polish capital and a leading market position in Poland and is part of the Respect Energy Capital Group. It is the first entity in Poland to offer 100% green energy to its customers. Respect Energy’s activities are also focused on the purchase, production and sale of energy coming exclusively from renewable sources. The company currently operates in 27 markets and cooperates with a group of more than 1,000 energy generators in Poland.

The PVE Group, represented by PVE Development based in Białe Błota near Bydgoszcz, is a leading RES developer in Poland developing its business as an independent producer of renewable energy (IPP). The PVE Group is developing large-scale projects including photovoltaic farms, wind farms, and BESS energy storage, with a total power capacity of over 10 GW. The portfolio of projects under construction includes approximately 110 MWp of PV projects and will soon be expanded with further investments. The PVE group includes PVE Development, PVE Construction, PVE Storage, PVE Asset Management, PVE Wind and numerous special purpose vehicles (SPEs).