Lhyfe (Euronext: LHYFE), one of the world’s pioneers in green and renewable hydrogen production, and VSB Energies Nouvelles, an independent producer of electricity from renewable energy, are announcing the signing of a long-term renewable electricity supply contract or Corporate PPA.
In 2021, VSB Energies Nouvelles commissioned the Buléon wind farm, which it now operates, in the heart of the Morbihan region of Brittany, and with a total capacity of 13.2 MW. Lhyfe Bretagne, a green and renewable hydrogen production site for Brittany which Lhyfe has started building, is also located in Buléon. The facility, which will produce up to 2 tonnes of hydrogen a day (with installed capacity of 5 MW), will be operational in late 2023.
Under this 16-year electricity supply contract, 100% of the green electricity produced by the VSB Energies Nouvelles wind farm in Buléon will be for the Lhyfe Bretagne site, which will supply the local area with green hydrogen for uses related to mobility and industrial processes.
For VSB Energies Nouvelles, this Corporate PPA, which is the first in a long series to come, represents a real growth driver. It also illustrates the expertise of VSB’s teams and their ability to address the problem of intermittency in the production of electricity from renewable sources.
Lhyfe, through this contract, continues to strengthen its network of renewable electricity supply partners, securing a local and long-term supply of green electricity for the production of its green and renewable hydrogen.
“As an operator committed to energy transition, we can only welcome the signing of this agreement”, said Mael Lagarde, Managing Director and Owner of VSB Energies Nouvelles. “We are really in a virtuous circle here and in win-win mode. Supplying a hydrogen production facility helps to create green energy while providing an answer to the intermittency of wind turbines and the need for storage. We are really entering a new stage of energy transition here”.
“Thanks to this agreement, we are securing in a local and long-term manner our renewable electricity supply, which is essential for the production of renewable hydrogen. More broadly, we are strengthening our network of green energy suppliers, and thus reinforcing our positioning and our production model.” Matthieu Guesné, CEO and founder of Lhyfe.
Lhyfe is a European group devoted to energy transition, and a producer and supplier of green and renewable hydrogen. Its production sites and portfolio of projects intend to provide access to green and renewable hydrogen in industrial quantities, and enable the creation of a virtuous energy model capable of decarbonising entire sectors of industry and transport.
In 2021, Lhyfe inaugurated the first industrial-scale green hydrogen production plant in the world to be interconnected with a wind farm. In 2022, Lhyfe inaugurated the first offshore green hydrogen production pilot platform in the world.
Lhyfe is represented in 11 European countries and had 149 staff at the end of 2022. The company is listed on the Euronext market in Paris (ISIN: FR0014009YQ1 – LHYFE). Lhyfe.com
About VSB Energies Nouvelles
Based in Nîmes and part of VSB Group, VSB Energies Nouvelles has been one of the major players in the renewable energy industry in France for more than 20 years. Recognised for its expertise and the quality of its projects, VSB Energies Nouvelles covers the entire value chain, from development to the promotion and production of renewable energy, through financing, construction, operation, maintenance and administrative management.
With more than 140 employees throughout France, VSB Energies Nouvelles generated a turnover of 16 million euros in 2022 and manages more than 650 MW of wind and solar energy assets generating power equivalent to the consumption of 620,000 inhabitants.