Reflecting our Energy team’s market-leading expertise in advising on PPA structures, HPP was pleased to provide legal support to Neste Corporation, the world’s leading producer of sustainable aviation fuel, renewable diesel and renewable feedstock solutions, in relation to its first PPA concerning solar power.
The PPA was entered into with the renewable energy company CPC Finland Oy for solar power supply to Neste’s Porvoo refinery in Finland from the Lakari solar plant in Rauma, with the supply expected to start in spring 2024.
Once ready, the plant will be the largest operating solar plant in Finland. The total annual volume of the agreement is approximately 24 GWh, which represents 75% of the annual capacity of the Lakari solar plant and corresponds to some 2% of the annual electricity consumption at Neste’s Porvoo refinery, which has used 100% renewable electricity since the beginning of 2022.
The HPP team has previously advised Neste in several PPAs in relation to the production from Finnish onshore wind farms.
