We are very pleased to share the news that lawyers from our law firm Legal Counsel Kacper Skalski and Legal Counsel Adam Madejski have provided legal advice to Allegro in the process of conclusion of Corporate PPA with R.Power Renewables.
The Corporate PPA secures electricity prices and the delivery of guarantees of origin over a 10-year period.
We would like to thank Anna Goraczka for her confidence, the Deloitte team for its transactional support, and Domanski Zakrzewski Palinka (DZP) for its fruitful cooperation in negotiating the Corporate PPA.
Allegro accelerates decarbonization and secures green energy price for a decade with R.Power deal
12.01.2024
Allegro, the largest marketplace originating in Europe, has signed a long-term agreement with R.Power, one of Poland’s largest independent power producers. The agreement secures the price of more than 200 GWh of green electricity produced by R.Power’s photovoltaic farms between 2025 and 2035, allowing Allegro to reduce CO2e emissions by as much as nearly 150,000 tons during that time.
We have secured as Allegro not only the price of a GWh energy package that could meet the annual needs of 100,000 households, but also the implementation of our climate goals. These are targets that Allegro was the first e-commerce and technology company in Poland to base an ambitious 1.5 degree pathway on, and have been accepted by Science Based Targets Initiatives (SBTi) as science-based targets. The agreement with R.Power is part of our decarbonization plan, under which we have committed to reduce emissions in our own operations by 38% with respect to 2021.”
Anna Gorączka, Group Sustainability & ESG Manager at Allegro
The agreement was signed under the virtual Power Purchase Agreement (vPPA) formula. This is an effective tool to ensure energy price stability and enable Allegro to obtain bank financing for the development of other energy projects. The agreement also secures a guarantee of energy origin in favor of Allegro throughout its term.
R.Power is an independent solar power producer operating in Poland, Romania, Italy, Portugal, Spain and Germany. The company covers the entire value of the solar energy supply chain, including the development of photovoltaic power plants. The portfolio of photovoltaic farms that will provide green energy for Allegro will be serviced by Nomad Electric.The agreement with Allegro is another significant PPA signed by R.Power in recent months. Long-term energy supply agreements are one of our growth priorities. As a group, we intend to offer companies green solutions that not only secure their energy prices, but also support ESG goals. R.Power provides long-term power purchase agreements for businesses, and our group company, Quanta Energy, provides comprehensive energy consulting and ‘solar-as-a-service’ solutions for large-scale commercial and industrial customers.”
Przemek Pięta, CEO of R.Power
