Allego Signs Two New 10-Year Power Purchase Agreements For 100 GWh Of Energy per Year, Further Mitigating Input Cost Volatility And Advancing Sustainable Mobility
Portfolio Pulse from Benzinga Newsdesk
Allego N.V. (NYSE:ALLG), a pan-European public electric vehicle charging network, has signed two 10-year power purchase agreements (PPAs) with Energy Solutions Group, securing 100 GWh of energy per year. The agreements will provide Allego with renewable energy from a solar park and a wind farm, expected to be operational in January 2024 and January 2025 respectively. This move is expected to stabilize Allego's input cost base and minimize the impact of commodity price volatility on its operational and margin profile.
November 03, 2023 | 12:36 pm
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Allego's new power purchase agreements with Energy Solutions Group will secure 100 GWh of renewable energy per year, helping to stabilize its input costs and minimize commodity price volatility.
The new power purchase agreements will provide Allego with a stable source of renewable energy for the next ten years, which will help to stabilize its input costs and protect it from commodity price volatility. This could make Allego's services more attractive to customers and potentially increase its market share in the electric vehicle charging sector.
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