- Union Investment Real Estate GmbH has revealed that it will purchase a total of 75 GWh of electricity from three solar parks
Union Investment Real Estate GmbH, a German investment company, has revealed that it will purchase a total of 75GWh of electricity from three solar parks in Lower Saxony in order to power its fund properties. Getec Energie GmbH will supply the electricity under a four-year power purchase agreement (PPA). This was disclosed by the Hanover-based energy service provider on Wednesday.
The newest deal is a complement to another PPA that has been signed by Union Investment at the end of 2021. Under the new agreement, Getec will supply clean electricity to the various fund properties of Union Investment from several German wind farms that no longer receive subsidies under the EEG scheme. 25 GWh is the amount of contracted electricity for the year 2022 and for the next three years, Getec will supply 50GWh every year.
Under the two wind and solar PPAs, the electricity supplied will be enough to meet 45% of the electricity consumption of the properties in 2022, and 70% from 2023 on. Supplying the properties with energy from both wind and solar plants brings Union Investment a step closer to its sustainability goals, said the company’s head of Sustainability Jan von Mallinckrodt.