Evonik inks another PPA for EnBW's He Dreiht offshore wind project

German specialty chemicals company Evonik Industries AG (ETR:EVK) has lifted its power procurement commitment from the 900-MW He Dreiht wind project in the North Sea, taking its contracted power volumes to 150 MW.

The chemicals firm has sealed a power purchase agreement (PPA) for electricity from an additional 50 MW from the project, German electric utility EnBW Energie Baden-Wuerttemberg AG (ETR:EBK) on Thursday. The 15-year deal comes on top of Evonik’s earlier contract for 100 MW from He Dreiht, signed in November last year.

Power deliveries under both PPAs will begin in 2026. They will provide electricity that will meet more than 33% of Evonik’s power requirements across Europe and help it cut its reliance on fossil fuels.

The Essen-based chemicals maker noted it is planning more deals to offtake green electricity directly from producers. With the two PPAs with EnBW, the share of renewable energy in its externally purchased electricity worldwide will cover 50%.

The zero-subsidy He Dreiht wind farm will be built in German waters some 90 km (55.92 mi) northwest of the island of Borkum. The 15-MW turbines are set to start producing electricity in 2025. The final investment decision is expected to be taken in the first quarter of 2023.

German steel producer Salzgitter AG and the operator of Frankfurt Airport, Fraport AG, are also among He Dreiht's power off-takers.

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