Shell Secures 600 MW Solar Project in Germany

Energy conglomerate Shell has joined hands for a Power Purchase Agreement with Hansa Invest Real Assets to acquire a German solar project of 600 MW capacity. HANSAINVEST Real Assets is a subsidiary of German insurance company SIGNAL IDUNA and manages over €7 billion in real estate and infrastructure assets across Europe. Microsoft has already secured 323 MW of this renewable energy capacity from Shell.

The PPA is valid for a period of 15 years. It is for production from the Witznitz Energy Park located in east Germany. The Witznitz Energy Park is being established by MOVE ON Energy on what was earlier an opencast coal mine near Leipzig. and it is expected to start generating electricity by the end of 2023.

“We are continuing to strengthen our low-carbon power portfolio,” stated Tom Summers, European Vice President at Shell Energy Trading. He added, “Solar power purchase agreements enable us to combine our strengths in power trading and optimisation with our existing customer relationships to deliver more value with less emissions.”

Shell Energy Europe has signed another Power Purchase Agreement with American multinational giant Microsoft Corporation. Under this, Shell Energy Europe will sell the power generated by 323 MW of the solar capacity to Microsoft Corporation. Microsoft is striving for 100% supply of renewable energy by 2025. In 2020, Shell and Microsoft formed a strategic alliance to support progress towards a world with net-zero emissions.

Shell Energy Europe is present in 14 European power markets, offtaking renewable power from wind farms and solar parks in mainland Europe and the UK.

Earlier, Shell Energy India joined hands with the State government of Gujarat, where it will invest Rs 2200 crore to set up a renewable energy facility.