EYATH is moving towards “green” PPAs for cheaper energy

The competition of EYATH S.A. for the supply of electricity through “green” bilateral contracts (PPAs), in order to put a brake on the rapid increase in energy costs in recent months, limit financial instability and simultaneously reduce the company’s environmental footprint, is on. This is the first similar public tender under Law 4412 for power purchase agreements (PPAs)!

Specifically, EYATH, following a study to determine its energy profile and consumption, announces a tender for the “Electricity supply through bilateral electricity purchase agreements with monetary settlement (Financial/Virtual Corporate Power Purchase Agreement – PPA) and transfer of certificates”. The tender envisages energy coverage of up to 100 GWh per year and up to 8 years (with the option of an additional 4 years). The supply of electricity will be 50% from solar panels and 50% from wind farms due to the constant demand from the company, with a starting price based on purchase prices at €85/MWh. The award of the contract will be done on a priority basis to participants who have existing RES units in operation, with a total minimum capacity of 10 MW.

“The problems that the explosion of energy prices in the last year has created for households and businesses are well known. Water companies are of course not excluded. Already, in our budget for 2023, a large increase in our energy costs is foreseen, on a scale of 35% of the company’s total expenses. Therefore, EYATH turns to PPAs and becomes the first public company to carry out such a tender, which, in addition to the significant financial advantage it will bring us, will also limit our environmental footprint, contributing to the national effort for energy transition”, pointed out the president of EYATH, Agis Papadopoulos.

“With this tender based on Law 4412, we hope to pave the way for other public enterprises towards cheaper and, preferably, “green” energy. Our own commitment as EYATH, to reduce our environmental footprint, sustainable development and economic stability, remains an unshakable priority”, emphasized the managing director of EYATH, Anthimos Amanatidis.

As it is known, the energy crisis has dramatically increased electricity prices, as a result of which large industries and businesses face a serious problem in planning and budgeting their financial activities. The bilateral Power Purchase Agreements or Power Purchase Agreements – PPAs are related to and are distinguished based on their price, duration, volume and type (physical, sleeved, financial). The contract with monetary settlement (financial), in which EYATH seeks to proceed, is purely financial. A fixed price is paid for each unit produced for the duration of the agreement and at regular intervals – usually on a monthly basis – the difference between the wholesale purchase price and the PPA price is calculated and the difference between the parties is settled accordingly.