Clean Energy Technologies Affiliate Enters Into Power Purchase Agreement With VEPP, Inc.; Renewable Power Purchase Agreement Anticipated Value Of $53M
Portfolio Pulse from Happy Mohamed
Clean Energy Technologies, Inc. (NASDAQ:CETY) has announced a 20-year Power Purchase Agreement (PPA) with VEPP, Inc. through its affiliate Vermont Renewable Gas, LLC (VRG). The deal, valued at $53 million, involves VRG selling all electric power and related benefits from its 2.2-megawatt biogas facility in Lyndonville, Vermont, to VEPP, Inc. CETY will design, construct, and operate the facility, which is expected to produce over 18,000 MWh of renewable electricity and 1,500 tons of BioChar annually.

September 07, 2023 | 12:36 pm
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CETY's new 20-year PPA with VEPP, Inc. is expected to generate steady, high-return income channels with high IRR cash flows. The company's Heat Recovery Solutions business will also benefit from each biomass project, potentially boosting the energy value of such projects by 15%.
The 20-year PPA with VEPP, Inc. is a significant deal for CETY, valued at $53 million. This agreement will provide a steady income stream for the company over the next two decades. Additionally, CETY's Heat Recovery Solutions business is expected to benefit from each biomass project, potentially increasing the energy value of these projects by 15%. This could lead to increased revenues and profitability for the company, positively impacting its stock price in the short term.
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