Combitherm help secure the construction of a new solar park near Silkeborg
Combitherm has entered into an agreement with the electricity company Reel that ensures the construction of a new solar park near Silkeborg. From 2024, Combitherm will be supplied with electricity from the new solar park, making Combitherm a frontrunner in the green transition and contributing directly to Denmark's transition to renewable energy.
Combitherm has entered a PPA (Power Purchase Agreement) with Reel, which secures financing for the construction of a new solar park near Silkeborg in Central Jutland. With the agreement, Combitherm will purchase power directly from the new solar park for 5 years. Combitherm thereby reduces its CO2 emissions and ensures cost stability.
"We are pleased to be a frontrunner together with Reel and secure new renewable energy in Denmark. A PPA like this is attractive in a volatile electricity market, and the reduction of CO2 is a key element in our sustainability strategy. Therefore, we are very proud of the agreement, which is a significant milestone on our sustainability journey," says COO Torben Hallstrup from Combitherm.
The new solar park is being built in Fårvang, 20 kilometers from Silkeborg, and will supply power to the Danish grid from the beginning of 2024. The solar park is being built by Groeningen Energy, while Reel handles all the practicalities of supplying the power and sustainability reporting. The solar park is being established on a former Christmas tree plantation and is being built with a focus on increasing biodiversity in the area and with respect for the local community.
PPA - A new way to buy power
A PPA is a power purchase agreement that allows companies to buy power directly from new solar and wind farms, outside the market, at a fixed low price over a number of years. The long-term agreements secure financing for the construction of the new wind and solar farms, thereby reducing companies' CO2 emissions and providing cost stability.
PPAs have previously been reserved for the most energy-consuming companies in Denmark. With Reel's solution, businesses of all sizes can help secure more renewable energy at a fixed low price through a brand-new electricity product that is tailored to each company's electricity consumption via Reel's optimization software.
"PPAs are crucial for securing the financing of new renewable energy and the transition to a more sustainable society. It is positive that Combitherm is proving to be a frontrunner in this transition, and we hope that this can be an inspiration for other companies both in Denmark and internationally," says Jon Sigvert, CEO of Reel.
About Reel - www.reel.energy
Reel is Denmark's only electricity company founded in climate science. Reel enables all businesses to enter PPAs and uses data analytics and algorithms to ensure the best match between renewable energy production and each business's electricity consumption. In partnership with businesses, Reel enters PPAs directly with energy producers and secures the construction of new renewable energy sources. Reel makes it easy and straightforward for companies and takes care of all the practicalities of the PPA, including delivery, settlement and and CO2 reporting.
Additional information
Questions can be directed to COO Torben Hallstrup at th@combitherm.dk or 2334 0180.
Read more about the project here (in Danish)
Photo: Combitherm is located in Them, and from 2024 Combitherm, together with the companies Arkitema, Baettr, COWI, Gardit, Genan and Swipbox, will receive power from the new solar park near Silkeborg.