Vattenfall and TuuliWatti sign wind power balancing services agreement
Vattenfall and the largest Finnish wind power producer TuuliWatti have signed a five-year energy services agreement that includes TuuliWatti’s total wind power production in Finland.
Starting on January 1st, 2020, the agreement entails forecasting, trading and balancing services for TuuliWatti’s total wind power production in Finland. Currently, the company’s wind power portfolio has an installed capacity of 441 MW and annual production of approximately 1,3 TWh, which equals to 20% of Finland’s annual wind production in 2019.
“The agreement with TuuliWatti is fully in line with Vattenfall’s ambition to become a leading provider of renewable energy services to corporate customers in Europe. This deal is an excellent match to our existing portfolio and a major step for Vattenfall to enter into the Finnish energy services wind power market,” says Johan Hagsten, Vattenfall’s Nordic Origination Director at Business Area Markets.
Vattenfall is offering a full range of energy services for producers and large consumers of renewable electricity in all Nordic and North-European countries. By this, Vattenfall is helping customers to exploit the benefits of the electricity market taking on the risk profile that they want.
“Vattenfall offered the most cost-efficient solution to handle our wind production imbalance risk. The agreement also includes a new completed wind farm ‘Ii Viinamäki’, which was the first non-subsided wind investment in Finland,” says Tuomas Candelin-Palmqvist, Director at TuuliWatti.
About Vattenfall and energy market services:
Vattenfall’s Nordic customers’ wind assets are managed from the Nordic dispatch center in Stockholm, where the company combines comprehensive experience from European power markets with the latest available technology in order to optimize value creation on ancillary service markets and intra/day-ahead power markets. Currently, Vattenfall has electricity sales as well as hydro power plants in Finland.
About TuuliWatti:
TuuliWatti Oy is an associated company of industrial wind power owned by the energy company St1 and S Group’s S-Voima. S-Voima is owned by SOK and regional cooperative companies. Established in 2009, TuuliWatti is Finland's leading actor in the industry and produced 20% of Finland's total wind power production in 2019. TuuliWatti is investing in strong expertise and the latest wind power technology to achieve the most cost-effective wind power.
For further information:
Vattenfall Press Office +46 (0)8 739 50 10, press@vattenfall.com
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