[PR] VSB France signs first long-term renewable energy power supply contract with hydrogen producer Lhyfe
/ Nîmes et Nantes / 07.09.2023
Nîmes and Nantes (France), 7 September - Lhyfe (Euronext: LHYFE), one of the world's pioneers in the production of green renewable hydrogen, and VSB énergies nouvelles, an independent producer of electricity from renewable sources and a subsidiary of the VSB Group, have announced the signing of a long-term renewable energy power supply agreement (Corporate PPA).
VSB énergies nouvelles commissioned in 2021 and now operates the 13.2 MW Buléon wind farm in the heart of Morbihan, where Lhyfe has launched the construction of a green and renewable hydrogen production site, "Lhyfe Bretagne". The unit, which will produce up to 2 tonnes of hydrogen a day (installed capacity of 5 MW), will come on stream at the end of 2023.
Under the terms of this 16-year electricity supply contract, 100% of the green electricity produced by the VSB énergies nouvelles wind farm at Buléon will be dedicated to the Lhyfe Bretagne site, which will supply green hydrogen locally for uses linked to mobility and industrial processes.
For VSB énergies nouvelles, this corporate PPA, the first of a long series to come, represents a genuine growth driver. It also illustrates the expertise of VSB's teams and their ability to respond to the problem of intermittent production of electricity from renewable sources.
Through this contract, Lhyfe continues to consolidate its network of renewable electricity supply partners, securing a local and long-term supply of green electricity for the production of its green and renewable hydrogen.
"As a committed player in the energy transition, we can only welcome the signing of this agreement," explains Mael Lagarde, Managing Director of VSB énergies nouvelles. "We're really in a virtuous loop here, in a win-win situation. Supplying a hydrogen production unit contributes to the creation of green energy, while at the same time providing a response to the intermittent nature of wind turbines and the need for storage. We are thus entering a new phase of the energy transition.”
"Thanks to this agreement, we can secure our supply of renewable electricity locally and over the long term, which is essential for the production of renewable hydrogen. More broadly, we are strengthening our network of partners supplying green energy, thereby reinforcing our positioning and our production model. Matthieu Guesné, Chairman and CEO and Founder of Lhyfe.
About Buléon wind farm
Located in the heart of Morbihan, the Buléon wind farm comprises 6 Vestas V110 wind turbines, each 110 metres high and with an output of 2.2 MW. In all, the wind farm boasts a total output of 13.2 MW, equivalent to the annual electricity consumption of 13,200 inhabitants. This represents 8,435 tonnes of CO2 avoided per year. The entire project has been developed by VSB énergies nouvelles, which manages the wind farm on its own behalf. Buléon joins 6 other wind farms already installed by VSB énergies nouvelles in the Morbihan department, in the communes of Mauron, Cruguel, Pleugriffet, Guegon, Lanouee and Guehenno. No less than 69.2 MW have been developed in Morbihan, 87.2 MW built and 28.4 MW are currently in operation.
About Lhyfe
Lhyfe is a European group dedicated to the energy transition, producing and supplying green and renewable hydrogen. Its production sites and portfolio of projects aim to give access to green and renewable hydrogen in industrial quantities, and to enter into a virtuous energy model enabling the decarbonisation of entire sectors of industry and mobility. In 2021, Lhyfe inaugurated the world's 1st industrial green hydrogen production site directly connected to a wind farm. In 2022, Lhyfe inaugurated the world's 1st pilot platform for the production of green hydrogen at sea. Lhyfe is present in 11 European countries and had 149 employees at the end of 2022. The company is listed on Euronext Paris (ISIN: FR0014009YQ1 - mnemo: LHYFE). Lhyfe.com
About VSB énergies nouvelles
Based in Nîmes and a subsidiary of the VSB Group, VSB énergies nouvelles has been a major player in the renewable energy sector in France for over 20 years. Renowned for its expertise and the quality of its projects, VSB énergies nouvelles covers the entire value chain: from development to the exploitation and production of renewable energy, including financing, construction, operation, maintenance and administrative management. With more than 140 employees in 6 branches covering the whole of France, VSB énergies nouvelles has sales of €16 million in 2022 and manages more than 650 MW of wind and solar assets producing the equivalent of the consumption of more than 620,000 inhabitants.
About VSB Group
VSB, headquartered in Dresden (Germany), is one of Europe’s leading vertically integrated developers in the field of renewable energies. Its core business is project development of onshore wind and photovoltaic parks, their operational management as well as the operation of its own assets as a growing independent power producer. VSB operates in nine European countries and has a pipeline of more than 15 GW. Since 1996, VSB has commissioned more than 700 wind energy and photovoltaic plants with a combined installed capacity of approximately 1.3 GW.
VSB also provides services for around 3.2 GW worth of installed plants. With its affiliated companies, the Group employs over 500 people. Further information: www.vsb.energy
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