Meton Energy S.A.

Heron market share rises to 10.82% following Viohalko deal

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Energy company Heron has broken the electricity retail market’s 10 percent barrier, increasing its market share to 10.82 percent in May, a development further extending its lead over other independent suppliers, a latest monthly report published by the Hellenic Energy Exchange has shown.

Heron gained over three percent in May after ending April with a market share of 7.76 percent.

This gain by Heron was primarily the result of a supply agreement reached with metal processing company Viohalko, one of Greece’s biggest electricity consumers, following its departure from power utility PPC, the country’s dominant electricity supplier, whose market share subsequently fell to 55.68 percent in May from 59.49 percent in April.

Heron was followed by Protergia with a 7.63 percent market share in May, Elpedison (6.28%), Watt and Volt (5.15%), NRG (4.99%), Fysiko Aerio (3.13%), Zenith (2.32%), Volterra (2.12%) and Volton (0.81%).

The development of green-energy PPAs, offered over 10, 12 and 15 durations, has added a new dimension to the electricity market. Competition is intensifying as suppliers seek agreements with medium and high-voltage consumers.

Heron has just announced such an agreement with Meton Energy, a joint venture established by RWE Renewables and PPC Renewables.

 

 

Italy’s Sofidel, RWE-PPC Renewables sign 10-year PPA for Greek paper mill

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Sofidel, the Italian multinational producer of tissue paper for sanitary and domestic use, has signed a ten-year power purchase agreement (PPA) with Meton Energy S.A., a joint venture of RWE Renewables and PPC Renewables, for annual electricity supply of 21 GWh at the producer’s paper mill in Katerini, northern Greece.

The renewable energy to be supplied to Sofidel’s production facility in Katerini will be produced by one of five solar energy farms being developed by RWE and PPC Renewables at Amyntaio, also in the north.

RWE and PPC Renewables’ five solar farms in Amyntaio, scheduled to be fully operational by the end of the first quarter in 2024, will offer a combined capacity of 210 MW.

Sofidel, one of the world’s leaders in the tissue paper market, estimates its PPA with the Meton Energy S.A. joint venture will cut its CO2 emissions by 12,500 tons per year.

“The signing of the PPA is another important step in our journey towards our goal of increasing the use of energy derived from renewable sources,” noted Riccardo Balducci, Sofidel Group’s Sustainability Director. “The agreement represents part of our policy for multiple energy supply options to promote a low-carbon economy and contribute to bringing additional renewable energy capacity to the market,” he added.

Olaf Lubenow, Head of Trading Solutions at RWE Supply & Trading for the UK, Northern and Southern Europe, commented: “This agreement is the result of the full commitment of all parties. It builds on a first bilateral power purchase agreement RWE signed with Sofidel last year for one of our onshore wind farms in Italy. We are pleased to establish long-term partnerships with pioneers like Sofidel, demonstrating how climate protection is possible under market conditions.”