The energy trading business of UK company Centrica PLC (LON:CNA) has signed a power purchase agreement (PPA) with Fraport AG to supply Frankfurt Airport’s owner with electricity from a wind farm in northern Germany.
The contract, announced today, starts in July 2023 and has a term of five years. Under it, Centrica will offtake power from a 22-MW recently commissioned wind farm developed by PNE AG (ETR:PNE3). The energy trader will provide Fraport AG with 63 GWh of renewable electricity a year, helping the airport operator to achieve greater energy security and price certainty, as well as contributing to its sustainability and net zero targets.
Fraport has a goal of zero carbon emissions by 2045.
According to Jan Gibbert, head of German Origination at Centrica Energy Marketing & Trading, “Germany’s green transition is accelerating, and the focus on sustainability and demand for renewable energy solutions only continues to grow.”