Centrica and re:cap global investors sign 10-year PPA for solar power in Sweden

AALBORG & ZUG, 13 July 2022: re:cap global investors ag, an independent, internationally active investment advisor for renewable energies, and Centrica Energy Marketing & Trading today announced the signing of a new 10-year PPA for two solar parks in Sweden developed by SunSpark with a total installed capacity of 9.2 MW. The two solar parks are the first step in the development of a larger portfolio of solar assets in Southern Sweden by SunSpark and FP Lux Investments, a fund advised by re:cap.

Starting September 1, 2022, Centrica will offtake approximately 9,1 GWh of renewable electricity annually from the two solar parks located in SE4 which in turn will be sold in balancing and merchant power markets. Through financial services optimisation, Centrica will manage re:cap’s market risks, securing project financing and helping re:cap grow their portfolio of renewable assets that counts almost 1 GW of solar and wind assets across Europe.

The deal underscores Centrica’s commitment to supporting the growth of renewable energy across Europe through specialising in providing route-to-market services not only in the Nordics, but more broadly across the European continent. Specialised in trading, optimisation and balancing of renewable energies, Centrica will secure optimisation of the power delivered to the grid, helping grid stability and maximising utilisation of asset flexibility.

Kristian Gjerløv-Juel, Director of Route-to-Market Origination and Asset Management of Centrica Energy Trading said, “We’re excited to have signed our first long-term solar PPA with re:cap, who’s ambitions for driving the green transition forward with investments and new renewable energies strongly align with ours. There’s great potential for bringing more solar power into the Nordic energy mix, and we see this agreement as an important step towards enabling more renewable energies across the Nordic power grids.”

Thomas Seibel, CEO of re:cap global investors said, “It’s been a pleasure to work with Centrica on this agreement, together contributing to the sustainable growth of renewable energies whilst offering investors calculable and stable returns that ultimately increase the appetite for renewable investments. We will continue to deliver on our role as a strong partner for investments in renewable energies, and we’re determined to continue playing our part in shaping the energy transition.”

About Centrica
Centrica is a leading international energy services and solutions provider, founded on a 200-year heritage of serving people.

Energy Marketing and Trading is the trading and optimisation arm of Centrica plc. We are a leading provider of energy management and optimisation services to businesses, in addition to managing commodity risk and providing wholesale market access for the Centrica Group. We have 14GW of capacity under contract in Europe, more than 80% of which is renewable assets.

About re:cap global investors ag
re:cap global investors ag is an internationally active investment advisor for renewable energies. With a specialised team, it supports its clients in the evaluation and selection of suitable projects. Upon request, re:cap also acts as operator of the plants and regularly reviews them for process and revenue optimisation. As a boutique, re:cap offers first-class, high-quality advice to institutional investors on their investments in infrastructure projects in the renewable energy sector. Thus, more than 1,000 megawatts have already been recommended and acquired on behalf of clients from more than 75,000 megawatts of audited projects.

re:cap global investors ag is a member of the multi-boutique alliance FP Investment Partners, which offers institutional investors access to innovative asset managers in the areas of equities, alternatives and real assets. Further information at: https://re-cap.ch/