European Energy, Microsoft sign PPAs for Scandinavian renewables

Denmark's European Energy A/S has signed several power purchase agreements (PPAs) to supply Scandinavian renewable energy to US tech group Microsoft Corp (NASDAQ:MSFT).

The Danish renewables developer said on Wednesday that these were long-term PPAs set to provide Microsoft with over 3.6 TWh over the contract period. The contracted electricity will be generated by the company's portfolio of wind and solar farms in Sweden and Denmark.

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Details about the specific projects or the duration of the PPAs were not disclosed. European Energy said it developed projects totalling 180.6 MW, which include the region’s first utility-scale hybrid wind and solar facility.

“We’re pleased the projects we contracted with European Energy have achieved commercial operation – directly contributing to our sustainability goals which includes a 100% renewable energy coverage for the company’s operations by the end of 2025,” Adrian Anderson, Microsoft’s General Manager of Renewables, Carbon Free Energy, and Carbon Dioxide Removal (CDR), said in Wednesday’s press release.

A day earlier, Spanish multi-energy group Repsol SA (BME:REP) announced the signing of six PPAs with Microsoft covering the supply of electricity from 230 MW of new solar and wind farms in Spain.