nextE, a renewable energy company operating as an Independent Energy Producer announced the completion of a 4.8 million euro investment in a photovoltaic power plant whose beneficiary is RAAL - manufacturer of cooling systems and heat exchangers of aluminum alloys and stainless steel, with a turnover of 389,290,062 RON in 2022.
The project reflects nextE's vision of energy as a service - Energy as a Service (EaaS), being the longest onsite PPA (Power Purchase Agreement) contract for a corporate client in Romania. Through EaaS solutions, companies can have access to renewable energy from renewable sources, with zero investment cost, without performance risks and operational risks. nextE invested 4.8 million euros in the project from RAAL, of which 70% was obtained through an investment loan granted by Pro Credit Bank for 15 years, which marks a first for the financing market of green projects in Romania.
Based on the PPA contract, the company will deliver to RAAL 5,825 MWh/year from the beginning of 2024, the excess renewable energy produced by the photovoltaic plant, being sold on the energy market by nextE. The total annual production of green energy is estimated at 7,263.9MWh/year, which will offset a CO2 emission of approximately 1,043 t CO2/year. Through this project, RAAL will use the renewable energy produced for its own consumption, without the need to conclude a supply contract with NextE, and network tariffs and the cogeneration contribution are not applicable to it, since the energy delivery will be made without the involvement of public networks. The photovoltaic power plant will cover over 25% of RAAL's annual energy needs, thus optimizing utility costs by over 15% per year. The design, construction and connection process took approximately 12 months, and after commissioning, nextE remains the owner and manager of the plant.