Allegro accelerates decarbonisation and secures green energy prices for 10 years thanks to agreement with R.Power

12.01.2024

Allegro, the largest marketplace of European origin, has signed a long-term agreement with R.Power, one of Poland's largest independent power producers. The agreement secures the price of over 200 GWh of green electricity produced by R.Power's photovoltaic farms between 2025 and 2035, allowing Allegro to reduce CO2e emissions by as much as nearly 150,000 tons during that time.

We have secured as Allegro not only the price of a GWh energy package that could meet the annual needs of 100,000 households but also the implementation of our climate goals. Allegro was the first e-commerce and technology company in Poland to base these targets on an ambitious 1.5-degree pathway and secure their validation by the Science Based Targets Initiatives (SBTi). The agreement with R.Power is part of our decarbonisation plan, under which we have committed to reduce emissions in our operations by 38% based on 2021 levels"

Anna Gorączka, Group Sustainability & ESG Manager at Allegro

The agreement was signed as a virtual Power Purchase Agreement (vPPA). It effectively ensures energy price stability and enables bank financing for developing other energy projects. The agreement also includes guarantees of energy origin to Allegro throughout the contract.

R.Power is an independent solar power producer operating in Poland, Romania, Italy, Portugal, Spain and Germany. The company covers the entire solar energy supply chain, including developing photovoltaic power plants. The portfolio of photovoltaic farms that will provide green energy for Allegro will be serviced by Nomad Electric.

The agreement with Allegro is another significant PPA signed by R.Power in recent months. Long-term electricity supply agreements are one of our growth priorities. As a group, we intend to offer enterprises green solutions that not only hedge their electricity prices but also support their ESG goals. R.Power delivers long-term power purchase agreements to corporates, and our group company, Quanta Energy, delivers comprehensive energy advisory as well as 'solar-as-a-service' solutions for large utility-scale commercial and industrial clients"

Przemek Pięta, R.Power CEO.

Deloitte Poland acted as the lead transaction advisor, along with vPPA structuring, accounting and tax support. The negotiations were also supported by the law firm Raczynski, Skalski & Partners sp.p. and DZP.