European energy company Vattenfall has signed a five-year energy services agreement with the largest Finnish wind power producer TuuliWatti that includes the latter’s total wind power production in Finland.
The agreement, which started on 1 January, 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,” said 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,” said Tuomas Candelin-Palmqvist, Director at TuuliWatti.