EDP Renewables signs its first PPA in the Netherlands with Kronos Solar EDPR. The German company, majority-owned by EDP Renewables, signs a long-term electricity supply contract with Google. The PPA will enable Google to benefit from the energy generated by four photovoltaic power plants in the Netherlands, developed by Kronos Solar EDPR. These projects, with a combined capacity of close to 50 MWp, should be operational by 2024.
Kronos Solar EDPR aims to demonstrate its ability to develop large-scale projects with Google
Kronos Solar EDPR intends to demonstrate its ability to develop large-scale solar projects. The group does this by collaborating with major players such as Google. This strategy is designed to reinforce the rapid growth of the APP market in Germany and the Netherlands, where large-scale projects are rare. This contract therefore sends out a strong signal for Kronos Solar EDPR’s German project portfolio. Indeed, Kronos Solar EDPR are already planning to deploy around 17 GW of green energy by 2026.
“With ambitious targets in new markets such as the Netherlands, Kronos will be an important part of EDPR’s new business plan. What’s more, our entry into these markets makes us a perfect complement to EDPR’s current geographic presence, enabling us to extend our access to European Union markets that are leading the energy transition,” emphasizes Duarte Bello, EDPR’s COO for Europe and Latin America.
Kronos Solar, a key player in the development of solar parks in Germany
Kronos Solar, with its experience in commissioning 80 solar projects in nine countries, is a key player in the development of solar parks outside national subsidy schemes in Germany. The company is well positioned to find the right partners for its projects. In Germany, its initial market, Kronos Solar plans to reach 215 GW of solar capacity. This will be at a growth rate of 22 GW per year. All this is possible thanks to the so-called “Easter package” legislation.
This was approved in 2022. “By focusing on the Netherlands, France, the UK and Germany, which are accelerating their growth in PPA markets, we want to clearly demonstrate our ability to partner with leading global companies for our green energy. The sale of 70% of Kronos Solar to EDPR in 2022 has enabled us to rapidly gain ground in the direct sale of unsubsidized green energy, which will be the largest market segment in the future,” says Alexander Arcache, CEO of Kronos Solar EDPR.
By focusing on PPA markets in Europe, EDP Renewables is demonstrating its ability to establish partnerships with leading companies. All this is to promote green energy. This approach is in line with their long-term sustainable energy objectives. Thanks to this strategy, EDP Renewables is strengthening its presence in 13 European countries. These countries account for over 90% of the solar capacity expected in the European Union by 2030.
A partnership for energy expansion: EDP Renewables, Kronos Solar EDPR and Google
This partnership with Google for the development of decentralized solar power in the United States is the largest contract for the supply of decentralized solar power. This is according to data from S&P Global and Bloomberg NEF. Expansion into new markets and the hybridization of fleets are opening up opportunities for other green technologies. These technologies include wind power, hydrogen and energy storage.
Martijn Bertisen, VP Google Netherlands, explains that “Google has always been at the forefront of research for a low-carbon future, during our three decades of climate action. Digital transformation and green transformation go hand in hand. Our ambition to run solely on decarbonized energy by 2030, anywhere and anytime in the world, will require intense cooperation with major energy players like EDP Renewables, committed as we are to long-term sustainable energy goals.”
This partnership between EDP Renewables, Kronos Solar EDPR and Google strengthens the position of these groups in the renewable energies market. It also encourages the development of large-scale solar projects.
