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BWE Industry Report 2020 - Innovative Projects

INNOVATIVE PROJECTS for

INNOVATIVE PROJECTS for the German wind market CONTINUED OPERATION OF TURBINES OLDER THAN 20 YEARS In the past, the German Renewable Energy Sources Act (EEG) guaranteed a fixed feed-in tariff to renewable energy assets. Action is now required in the case of assets whose subsidies expire after 20 years. Direct marketers such as Statkraft are using PPAs to ensure that continued operation is cost-effective. PPAs are receiving increased attention, because the fundamental question is: How can both existing and new renewable energy assets be marketed and financed in the future? As a power offtaker, under PPAs, Statkraft can assume significant risks related to the operations of renewable energy assets that have until now been covered by the EEG subsidy or other support mechanisms. Power purchase agreements (PPAs) enable wind farms to continue operating after their EEG subsidies expire. They are usually long-term power purchase agreements between an electricity producer as the seller and a power offtaker as the buyer. Private or public utilities, as well as large end consumers, power trading companies, or even direct marketers such as Statkraft can be considered as buyers. PPAs have existed since the beginnings of electrification, but they have not played a significant role in Germany in recent decades. However, this is changing, as both technology costs and feed-in tariffs are sinking, and EEG subsidies for existing plants are expiring: The demand for alternative marketing models for the continued commercial use of existing renewable energy assets, primarily wind farms, is increasing. Until now, the EEG has hedged price- and volume-related risks as well as technical risks for renewable energy assets through a fixed feed-in tariff. Wind farms whose EEG subsidies expire after 20 years have to bear these risks themselves – if they decide to continue operating their plants. This is where direct marketers such as Statkraft come in, because as power offtakers, they assume at least some of the risks. How does it all fit together? Example: Weekly energy consumption of an industrial company and the respective share derived from renewables GWh, week 500 400 300 200 100 1 0 Without EEG subsidies, on the free market, the risks described above result in the following problem: If the operator of a wind farm sells their electricity on the stock exchange or to an end customer in the long-term in order to fix the unit value, the operator enters into a delivery obligation, which usually is a binding restriction on both the delivery quantity and the delivery period. However, if there is no wind, or if the plant has a major technical defect and the operator is unable to meet the delivery quantity or period, he must procure the contractually guaranteed electricity elsewhere – and possibly at higher prices. Oversupply Consumption Hydro Solar Wind 16 Wind Industry in Germany

Advertorial “PPAs will receive increased attention, because the fundamental question is: How can both existing and new renewable energy power plants be marketed and financed in the future?“ On the other hand, excess generated electricity can also pose a considerable financial risk if energy prices are negative. If, on the other hand, the operator chooses a marketing channel via short-term trading, they will need to worry about high price fluctuations, which can at least partly lead to revenues that are below the operator’s marginal costs. This problem is present for both new installations that are not subsidised as well as old installations that stop receiving EEG subsidies after 20 years. A power purchase agreement with a direct marketer enables the power plant’s operator to continue the commercial operation of their plant, even if it is not covered by EEG subsidies, and provides them with the security needed for planning. Another significant aspect of the marketing of renewable energy assets that are outside the EEG is that once the EEG payment is withdrawn, the prohibition of multiple sales 1 will no longer apply, and the green added value of the electricity will be freely usable for the first time. This will allow power plant operators to market the green added value of their power plants in addition to the agreed electricity price. Statkraft can now offer green electricity to business and industrial clients to meet their sustainability targets. These end users may demand a steady supply of electricity, which must be provided. For this reason, intelligent portfolio management is necessary when marketing renewable energy to end users; the decisive factor here is the mix of technologies. Statkraft offers both: several years of experience in marketing renewable energy to end users and access to one of the largest renewable energy portfolios in Europe. Copyright: Windpark Kunst und Wind Wind farm Number of turbines Installed capacity Schliekum 3 4.5 MW Kunst und Wind 5 7.0 MW Meerberg 6 9.0 MW Rebenstein 3 4.5 MW Bassum 13 19.5 MW Sonne und Wind 1 1.5 MW 1—Power plant operators who […] market this electricity directly in the forms referred to in Article 33b (1) may not pass on proofs of origin, or other evidence proving the origins of this electricity, for this electricity.” Source § 56 EEG Conclusion Statkraft has concluded the first PPAs, which will enable the continued operation of renewable power plants after EEG subsidies expire, with six community wind farms. The contracts encompass 31 wind turbines with a total rated capacity of 46 MW and an operating time of three to five years. The electricity is purchased by Mercedes- Benz Cars and used to power the Mercedes Benz plant in Bremen, as well as German battery facilities such as the ones in Kamenz and Stuttgart-Untertürkheim. Are you interested in the project and want to know how your community or your business can benefit from it? Contact us. Our contact can be found in the company profile on page 179 Wind Industry in Germany 17

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