Enhancing Collaboration with the New SPOT+ Pricing Model
We are proud to announce the continuation and enhancement of our successful partnership with Energija projekt d.d., the owner of Senj wind farm, Croatia's largest wind energy facility. Since the wind farm joined our virtual power plant in September, we have extended our flexibility purchase agreement for system services and our PPA agreement for purchasing electricity. This partnership has been further enhanced with the introduction of our innovative SPOT+ pricing model, enabling Energija projekt to hedge a portion of its production on liquid forward markets.
The generation of green wind energy often faces unpredictability due to its dependence on weather conditions, which can lead to challenges in aligning production with user demands. Our virtual power plant offers a unique solution to these challenges, ensuring optimized operations and efficient integration of renewable energy sources. The Senj wind farm, with a capacity of 156 MW and an annual planned production of 530 GWh, is now an integral part of this innovative system.
By extending the PPA agreement, we continue to provide Senj wind farm with secure access to energy markets, including pre-determined pricing for specific periods, and tools to balance surpluses and shortfalls. The introduction of the SPOT+ pricing model brings additional benefits by allowing our partner to hedge production on liquid forward markets, offering greater financial stability.
This collaboration ensures a stable and predictable revenue stream for the wind farm, significantly reducing risks associated with energy price volatility. Additionally, we have expanded our partnership in providing system services within the Croatian electricity network (HOPS), further strengthening our position as a pioneer in the renewable energy market.
With more than 500 MW of capacity already secured in the Croatian PPA segment, we continue to demonstrate how GEN-I's innovative products and expertise deliver high added value for our partners. This partnership exemplifies our commitment to supporting the green energy transition and driving sustainable energy solutions.
