corporate ppas in germany & france - energie-fr-de.eu · • different ongoing call for tenders...

Kunde/Mandant Seite Thema/Projekt/Teilprojekt

DFBEW / OFATE @ HUSUM Wind

Corporate PPAs in Germany & France

September 11, 2019 | Dr. Nicolai Herrmann | enervis

Regionale Direktversorgung Page PPAs in Germany and FranceDFBEW / OFATE

enervis evaluates assets based on quantitative data,

proprietary models and market knowledge

enervis company profile

Asset classes, sectors and technologies in focus:

Conventional generation

Wind and PV

CHP

Power and heat storage

Power-to-X

Gas markets

enervis creates:

• Transparent basis for asset evaluation

• Risk minimization

• Revenue optimisation

• Competitive advantages

2


Introduction: PPA types and offtakers

Producer

Corporate PPA

3

CustomerSalesWholsale markets

Utility PPA

Physical PPA: direct wire

Sleeved PPA: delivery into

customer‘s balancing group

Virtual PPA: settlement

against wholesale market


Framework and preconditions for a PPA market

Low

renewable

cost*…

...that are

covered by

sufficient

power market

revenues

No (or less

attractive)

revenue

alternatives

Trust from

banks and

investors

Demand from

large

consumers

for green

power

4

*for new investment: full cost incl. investment/financing, for post-EEG operation: only operational cost


Recent wind PPAs in Germany Recent wind PPAs in France

Post-EEG PPAs: ~ 60 MW in total

• Statkraft: 31 turbines, 46 MW, 3 to 5 years(with Mercedes-Benz in the background)

• Greenpeace Energy: 6 turbines, 7.2 MW

• Naturstrom: 2 turbines, 2.1 MW

• Major offtakers: all utility PPAs, partly with corporate offtakers in the background

• Merchant investments: none until now

• PV: several merchant PPAs with several 100 Megawatt (developers, utilities)

Post feed-in tariff:

• EDF & Food Group Maïsadour: 11.7 MW

Merchant investments: ~ 130 MW

• Valeco: 5 year PPA for 40.5 MW

• Eurowatt: 3 year PPA for 30.5 MW

• Boreas: 3 year PPA for 20 MW

• Major offtakers: Statkraft (wind), SNCF (PV)

• Different ongoing call for tenders

• PV: several merchant PPAs with several 100 Megawatt (developers, utilities, corporations)

State of the PPA markets in Germany and FranceExisting PPAs according to public data

5


Why are German wind PPAs mostly Utility PPAs?

Producer

Corporate PPA

6

CustomerSalesWholsale markets

Utility PPA

• Small wind farms, small turbines

• No trading experience

• No access to customers

• Demand for: professional PPA

origination, structured power

product for a competitive price

• Aggregation of projects

• Portfolio effects, risk mitigation

• Energy trading competence

• Hedging, structuring

• Existing customer portfolio

(industry and other)


40

€/M

Wh

Determination of a fair PPA valueW

hole

sale

pow

er

price

(baselo

ad)

Pro

ject

specific

ca

putr

eprice

7

Location,

turbine type

Profile loss

Weather

year Short-term

structuring Individual PPA parameters

GoO

“wind vs. power market“

Pro

ject

specific

(„g

ross“)

PP

A-P

rice

Pro

ject

specific

(„net“

) P

PA

-Price


Wind

Capture rates [%] for wind & PV in Europe (2018)

PV

8

91,2%

95,0%

95,4%

96,8%

97,7%

98,2%

98,3%

98,6%

98,8%

98,9%

99,9%

100,1%

100,2%

100,2%

102,0%103,4%

103,5%

103,7%

104,8%

104,8%

105,1%

106,2%

107,4%

109,2%

115,2%

117,5%

0% 20% 40% 60% 80% 100% 120% 140%

IT_SICI

IT_SUD

CH

IT_SARD

IT_CSUD

GR

GB

DE

AT

BE

IT_CNOR

CZ

IT_NORD

EE

FR

NL

ES

PT

SI

RO

DK1

SK

BG

DK2

LT

PL

%(Base)

84,2%87,5%

89,2%

89,3%

89,8%

91,5%

92,0%

92,6%

93,1%

93,2%

93,6%

94,3%

94,4%

94,4%

94,5%

95,1%

95,5%

95,5%

95,5%

95,6%

95,8%

95,9%95,9%96,3%

96,3%

96,4%

97,3%

97,3%

97,6%

97,8%

98,4%

98,6%

98,9%

99,0%

99,6%

102,5%

0% 20% 40% 60% 80% 100% 120%

DE

IT_SICI

DK1

RO

DK2

PL

PT

ES

LT

CZ

SE4

IT_SARD

IT_SUD

BE

FI

SE3

IT_CSUD

HU

SE2

BG

NO3

NL

FR

AT

EE

LV

SE1

GR

CH

NO4

NO2

IT_NORD

IE

IT_CNOR

GB

SI

%(Base)


40

€/M

Wh

Determination of a fair PPA valueW

hole

sale

pow

er

price

(baselo

ad)

Pro

ject

specific

ca

putr

eprice

9

Location,

turbine type

Profile loss

Weather

year Short-term


GoO

Pro

ject

specific

(„g

ross“)

PP

A-P

rice

Pro

ject

specific

(„net“

) P

PA

-Price

Individual PPA parameters


40

enervis services for evaluation of PPAs (Wind & PV)

Wh

ole

sale

pow

er

price

(baselo

ad)

Pro

ject

specific

caputr

ep

rice

Pro

ject

specific

„gro

ss“

PP

A-P

rice

Pro

ject

specific

PP

A-P

rice

Available for all relevant European PPA markets

10

Shape risk

wind onshore

Weather

year Short-term


GoO

Site,

project setup

National power

market outlook

Market Value Atlas & PPA Atlas for PV & Wind

Individual PPA evaluation,

PPA tool

Project-specific

Revenue Report

en

erv

is

Forecast of

balancing cost


Webinar: The French PPA market

enervis PPA services for Germany & France

11

• Register for a complimentary webinar on renewable PPAs: the French Power Market Outlook 2019 – 2050 by enervis and Watson Farley & Williams

• September 24, 3 pm

• Free registration:

https://tinyurl.com/y2o3eydc

https://tinyurl.com/y2o3eydc


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corporate ppas in germany & france - energie-fr-de.eu · • different ongoing call for tenders...

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