The electricity produced by the Andilly-les-Marais wind farm, co-developed by VALOREM, TERRA ENERGIES & COOPEC and financed by BPCE ENERGECO, will be sold directly to Enercoop for 25 years.
The VALOREM Group – an independent French operator in the green energy sector for 30 years – has managed a direct renewable electricity purchase agreement (PPA*) with the renewable cooperative supplier Enercoop on behalf of all the shareholders of the Andilly-les-Marais Wind Farm (PEAM), confirming its position as the benchmark buyer and marketer of socially responsible electricity. This contract guarantees the PEAM energy producer a stable income over 25 years, while providing Enercoop with a renewable supply at a rate fixed in advance. This project is part of Enercoop’s commitment to offering its customers long-term visibility on energy prices.
As part of this long-term commitment, the electricity produced by the wind farm will be sold to Enercoop every year – 48 GWh, equivalent to the consumption of around 10,600 homes. Through their bills, the supplier’s customers are providing financial support for this socially responsible energy project.
PROTECT AGAINST VOLATILITY IN THE ELECTRICITY MARKET AND FINANCE THE ENERGY TRANSITION
This purchase agreement between the Andilly-les-Marais wind farm, located 12 km from La Rochelle, and Enercoop will enable the wind farm to break even at a time when inflation is pushing up construction costs significantly.
It is part of Enercoop’s strategy of concluding long-term supply contracts directly with renewable energy producers, with the aim of decoupling its supply costs from the volatility of market prices.
With the support of the VALOREM Group and TERRA ENERGIES, COOPEC – Coopérative de Production d’Energie Citoyenne en Aunis Atlantique, which currently has 380 members – chose Enercoop as the exclusive purchaser of the park’s electricity production, so that it would primarily benefit militant and committed consumers for 25 years. This is a much longer term than other contracts of this type in France (usually signed for 15 to 20 years), affirming a long-term vision and a resolutely partnership-based approach.
AN INNOVATIVE FINANCIAL PACKAGE
The VALOREM Group, Enercoop and their legal (Watson Farley & Williams) and financial (BPCE ENERGECO, supported by Crédit Coopératif, Caisse d’Epargne Aquitaine Poitou-Charentes, Banque Populaire Aquitaine Centre Atlantique and NEF) partners have put in place an innovative arrangement at the cutting edge of financial and contractual engineering, through which Enercoop is participating in the financing of the park.