Allego will begin receiving 25 gigawatt hours of renewable energy beginning January 1, 2023, to support the majority of the Company’s operations in Germany. The signed agreement represents approximately 16% of Allego’s entire European charging network.

In a continued effort to hedge input costs and commodity volatility, the Company expects to sign additional PPAs to cover more than 80% of Allego’s operations in the upcoming period.

For those not familiar with what a Power Purchase Agreement is, this is a contractual agreement between energy buyers and sellers. They come together and agree to buy and sell an amount of energy that is, or will be, generated by a renewable asset.

Mathieu Bonnet, Allego’s Chief Executive Officer, stated “I am pleased we have signed our first power purchase agreement for 25 gigawatt hours. Utilizing 100% renewable energy from a solar farm, Allego strengthens its mission of supplying our charging stations with 100% green electricity. Moreover, it is the first step of our execution strategy to cover at least 80% of our production in 2023 with long-term, low-cost PPAs based on renewable power assets.”

Find the press release here. 

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