Clifford Chance has advised Kallista Energy on the negotiation and signing of a long-term power purchase agreement with Lhyfe, a global pioneer in the production of green and renewable hydrogen.
The emerging green hydrogen market provides sufficient visibility to establish one of the very first long-term electricity sales contracts in this sector, securing bank financing for Kallista Energy for the repowering of a wind farm. For Lhyfe, this 15-year Corporate Power Purchase Agreement secures the energy supply for its future green hydrogen production sites.
The new Brachy wind farm will be home to 5 Vestas V126 wind turbines, with a total capacity of 15 MW. Due to come on stream in summer 2024, it will generate 46 GWh of renewable electricity a year. The entire output of the wind farm will be dedicated to Lhyfe’s green and renewable hydrogen production sites, contributing to the decarbonisation of mobility and industry.
Clifford Chance also advised Kallista Energy on the analysis of the bankability of the Corporate Power Purchase Agreement, for bank financing of the wind farm repowering by Saar LB and BNP Paribas.
The team was composed of Gauthier Martin, partner, Clémence Graffan, Nina Yoshida, Elise Mayer and Victoria Hautcoeur, associates.
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