February 10 (Renewables Now) - German power utility RWE AG (ETR:RWE) has agreed to purchase 3 TWh of electricity generated by wind and solar parks that Denmark’s European Energy A/S seeks to develop and build at home.
According to a joint statement issued on Monday, the off-take agreement will come into force on January 1, 2024 and run for seven years.
The agreement will support the development of “substantial parts” of the Danish project pipeline promoted by European Energy, but details on the size of the wind and solar portfolio have not been provided.
"Three TWh of green power over seven year is equivalent to the full annual production of 35 modern wind turbines or the annual output of a 400 MW solar plant for the period. It is comparable to the annual consumption of 115,000 homes," the statement reads.