Watson Farley & Williams (“WFW”) has advised independent French renewable energy producer Ze Energy on its signing of a long-term green Corporate Power Purchase Agreement (“CPPA”) with Sorégies.
Covering a 20-year period, the green CPPA guarantees Ze Energy operate an annual capacity of 150 GWh at a fixed price, thus enabling them to develop their first hybrid plants combining photovoltaic power generation and storage systems in France by 2024. This is among the largest French green PPAs to date in terms of volume and its delivery guarantee courtesy of the plants’ storage capacity has no precedent in France. This contract also supports the modernisation of the French power system as it contributes both to its flexibility and energy transition.
Sorégies is a local distribution network and part of the Syndicat Energies Vienne (a public body for inter-municipal cooperation), as well as the parent entity of a group of energy companies.
The WFW Paris Regulatory and Projects team that advised Ze Energy was led by Partner Laurent Battoue, supported by Associate Marine Yzquierdo and assisted on bankability matters by Partner Laurence Martinez-Bellet and Associate Diana Harapu.