press release

Aug. 6, 2020, 9:05 a.m. EDT

Direct Energy Business and RWE Renewables sign long-term agreement on 25 MW solar project in Southern Alberta

CALGARY, AB, Aug. 6, 2020 /PRNewswire/ - RWE Renewables, the newest subsidiary of RWE Group, and Direct Energy Business, part of Direct Energy, one of North America's largest energy and energy-related services providers, and a subsidiary of Centrica plc, today announced they have signed a long-term agreement to purchase 25 MW of electrical output and associated capacity from RWE's Canadian Hull solar plant.  The photovoltaic plant, located in Southern Alberta'sTaber county, started commercial operation recently and will now provide an important part of the electricity that Direct Energy Business needs to supply its Canadian customers with renewable electricity.

"With increased customer demand for renewables, the addition of 25 MW of solar supply will help Direct Energy Business build renewable power options for our customers and affirms our commitment to provide products and services that lead to a lower carbon future," said David Brast, Senior Vice President, North America Gas and Power, Direct Energy Business.

Silvia Ortín Rios, Chief Operating Officer Wind Onshore and Solar Photovoltaics Americas of RWE Renewables says: "With this deal, we are demonstrating our extensive capabilities as a leading integrated renewables player ranging from project development, construction, operations to commercialization. The contract with Direct Energy illustrates our expertise in marketing green electricity on the basis of bilateral power purchase agreements. Solar energy is already competitive and decreasing prices for equipment will further drive this development in the long term."

"This PPA demonstrates Direct Energy's unique ability to create long-term 100 percent renewable energy solutions that combine the strengths of our customers, project developers and energy retailers alike," said Lance Henderson, Director, Western Origination, Direct Energy Business .

The long-term contract will start in August 2020. RWE's solar farm will supply an annual production of up to 50,000 MWh of carbon-free energy and environmental attributes to Direct Energy, enough green electricity to supply the equivalent of about 6,500 Canadian homes.

With nearly one million residential, business and wholesale customers in Alberta, Direct Energy and Direct Energy Business are deeply committed to delivering renewable energy solutions that meet our customers unique needs and playing an active role in the communities we serve.

About Direct Energy Direct Energy is one of North America's largest energy and energy-related services companies.  A subsidiary of Centrica plc /zigman2/quotes/205228367/delayed UK:CNA +0.61% , one of the world's leading integrated energy companies, Direct Energy operates in 50 U.S. states plus the District of Columbia and four provinces in Canada. In Alberta we have offices in Calgary and Edmonton serving nearly 1 million residential and commercial customers.  Direct Energy provides customers with choice and support in managing their energy costs through a portfolio of innovative products and services. To learn more about Direct Energy and Direct Energy Regulated Services, please visit www.directenergy.ca or www.directenergyregulatedservices.com .

About RWE Renewables: RWE Renewables, the newest subsidiary of the RWE Group, is one of the world's leading renewable energy companies. With around 3,500 employees, the company has onshore and offshore wind farms, photovoltaic plants and battery storage facilities with a combined capacity of approximately 9 gigawatts. RWE Renewables is driving the expansion of renewable energy in more than 15 countries on four continents. For further growth a net investment budget of €5 billion is available until 2022. When adding in possible partnerships, the medium term investment budget could reach up to €9 billion. The focus is on the Americas, the core markets in Europe and the Asia-Pacific region.

RWE Renewables GmbH Group Corporate Communications & Public Affairs | Kruppstraße 74 | 45128 Essen | Germany T +49 201 5179-5008 | communications@rwe.com | www.rwe.com/press

 

Cision
View original content to download multimedia: http://www.prnewswire.com/news-releases/direct-energy-business-and-rwe-renewables-sign-long-term-agreement-on-25-mw-solar-project-in-southern-alberta-301107687.html

SOURCE Direct Energy Business

COMTEX_368975511/2454/2020-08-06T09:05:05

Is there a problem with this press release? Contact the source provider Comtex at editorial@comtex.com. You can also contact MarketWatch Customer Service via our Customer Center.

Copyright (C) 2020 PR Newswire. All rights reserved

/zigman2/quotes/205228367/delayed
UK : U.K.: London
56.52 p
+0.34 +0.61%
Volume: 8.88M
April 16, 2021 4:35p
P/E Ratio
65.72
Dividend Yield
0.00%
Market Cap
£3.26 billion
Rev. per Employee
£467,751
loading...

Comtex

Partner Center

Link to MarketWatch's Slice.