Allego Signs Long-Term Power Purchase Agreement Providing 100% Renewable Electricity

Allego N.V. announced it has signed its first long-term Power Purchase Agreement (PPA) with a leading independent power producer.

Allego will begin receiving 25 gigawatt hours of renewable electricity beginning January 1, 2023 to support the majority of the Company’s operations in Germany.

The signed agreement represents approximately 16% of Allego’s entire European charging network. In a continued effort to further hedge input costs and commodity volatility, the Company expects to sign additional PPAs to cover more than 80% of Allego’s operations.

Mathieu Bonnet, Allego’s Chief Executive Officer, stated “I am pleased we have signed our first power purchase agreement for 25 gigawatt hours. Utilizing 100% renewable energy from a solar farm, we strengthen our mission of supplying our charging stations with 100% green energy. Moreover, it is the first step of our execution strategy to cover at least 80% of our production in 2023 with long-term, low-cost PPAs based on renewable power assets. We continue to have active discussions with other suppliers to cover more of our network.”