26 October 2021 • 2 minute read
DLA Piper advises Contact Energy on New Zealand’s first and second corporate power purchase agreements
DLA Piper has advised Contact Energy (Contact) on corporate power purchase agreements (PPAs) with Major Electricity Users Group (MEUG) members Pan Pac Forest Products (Pan Pac) and Oji Fibre Solutions (Oji). Contact has signed 10-year deals to supply renewable electricity from its Tauhara geothermal facility to forestry products manufacturer Pan Pac, and pulp and paper company Oji.
These agreements are the first and second corporate PPAs to have been signed in New Zealand and demonstrate a long-term commitment to support renewable generation development.
The DLA Piper team was led by Jeremy MacIver and Mark Williamson.
Commenting, Jeremy said: “We are delighted to have advised Contact on this ground breaking transaction. We have worked on a great number of PPAs overseas and it is fantastic to see a similar green trend emerging here in New Zealand where offtakers contract directly with a generation facility to ensure that a portion of their electricity consumption originates from renewable sources and to contribute to their ESG commitments from an additionality perspective”.
These agreements are the first and second corporate PPAs to have been signed in New Zealand and demonstrate a long-term commitment to support renewable generation development.
The DLA Piper team was led by Jeremy MacIver and Mark Williamson.
Commenting, Jeremy said: “We are delighted to have advised Contact on this ground breaking transaction. We have worked on a great number of PPAs overseas and it is fantastic to see a similar green trend emerging here in New Zealand where offtakers contract directly with a generation facility to ensure that a portion of their electricity consumption originates from renewable sources and to contribute to their ESG commitments from an additionality perspective”.