On track for a low carbon energy future - Centrica signs corporate power deal with Deutsche Bahn

29 August 2023

Sustainability

Media Relations

Centrica Energy Trading has signed a two-year corporate power purchase agreement (PPA) with Deutsche Bahn, Germany’s national railway company.

Starting January 2024, Centrica will offtake power from three onshore wind farms with an installed capacity of 60.7 MW. The sites, developed by Prokon AG in Germany, have a total of 45 turbines and will provide approximately 70GWh of renewable electricity annually to Deutsche Bahn.

"We are exploring how to make this scheme work best for our customers so that it fits in with their habits around the home. This approach to help manage residential electricity demand is likely to become a major feature of the market in years to come."

Jan Gibbert, Head of German Origination at Centrica Energy Trading

Building on an ambitious growth strategy in the German post-EEG market, Centrica has developed the capabilities necessary to provide market-leading and highly customised agreements that support corporates in decarbonising their energy consumption and ensuring long-term power price stability.

Germany is rapidly becoming a powerhouse for the development and uptake of renewables, with developers, private investors, and businesses taking charge on the buildout of new assets.

“Applying our trading expertise and in-depth understanding of market dynamics, we’re both supporting developers on their investment and helping corporates explore opportunities for green power procurement to deliver on their net zero targets,” said Jan Gibbert, Head of German Origination at Centrica Energy Trading.

Centrica Energy Trading currently manages approximately 2500MW of solar and wind assets in Germany and aims to build on this position to further support Germany’s energy transition. In turn, this will help deliver on national climate targets prescribing at least 60% reduction in GHG-emissions by 2030 and carbon neutrality by 2045.