Faerch Group signs one of the first and largest PPA deals in Hungary with GoldenPeaks Capital, supported by LevelTen Energy and Reel
Faerch Group, a leading supplier of circular, multi-purpose food packaging with integrated recycling capability, has closed a deal for a physical PPA in Hungary with GoldenPeaks Capital, an international investment company specializing in renewable investments. The deal was supported by LevelTenEnergy, operator of the world’s largest PPA marketplace, and Reel, a next-generation electricity supplier. This collaboration marks one of the firstPPA deals in Hungary and to date the largest deal of its kind, marking a significant milestone in this maturing market.
“Faerch Group is proud to work with GoldenPeaks Capital, LevelTen Energy, and Reel on this deal,” said Tom Sand-Kristensen, Group CFO at Faerch Group. “This 15GWh/year, 12-year sleeved solar PPA will provide reliable, cost-effective renewable energy directly to Faerch sites in Hungary and it’s another significant milestone in our Renewable Energy Strategy that seeks to close all our sites with additional renewable energy via PPAs,” he said.
Adriano Agosti, Founder and President of GoldenPeaks Capital said: “We are proud to contribute to the green footprint of Faerch Group and to team up with LevelTen Energy on this. The PPA will empower the company to enhance their share of renewable energy across their operations, leading the change for renewable energy in the region. It is another example of Hungary’s growing demand for green energy solutions.”
“We’reproud to have supported Faerch in closing this first of its kind PPA inHungary” said Anders Engtoft Meldgaard, CCO and co-founder of Reel. “This dealis perfectly aligned with Reel’s mission of creating a new way for companies tobuy electricity that accelerates the renewable energy transition,” he said.
“LevelTenEnergy was proud to lend our expertise to this landmark deal,” said Flemming Sørensen, Vice President of Europe at LevelTen Energy. “We are pleased that LevelTen’s Energy Marketplace was able to connect these industry-leading companies and enable them to sign a PPA in a growing market and a very competitive environment,” he said. “It’s been great to see and be a part of PPA growth in countries like Hungary. We look forward to continuing to support its advancement alongside our friends at Faerch Group, GoldenPeaks, and Reel,” he said.
LevelTenEnergy supported Faerch Group and Reel in running an efficient procurement process that resulted in securing the best available projects based on their needs. For sellers like GoldenPeaks Capital, LevelTen is able to broker connections with buyers who are motivated to make transaction decisions, both directly and via our partners.
