offtaker
/ˈɔːfˌteɪkər/
Definition
A buyer or entity that enters into an agreement to purchase all or a substantial portion of the future output produced by a project or facility.
Etymology
The term is a compound formed from 'off' and 'take,' essentially describing someone who 'takes off' (removes/purchases) goods as they are produced. It evolved in economic and industrial contexts to describe a contractual party committed to buying a producer's output.
In the news
In this article, the Electricity Generating Authority of Thailand (EGAT) acts as the primary offtaker for large-scale energy storage projects, meaning they are the designated buyer of the power or services these systems provide. This role is crucial because it provides the guaranteed demand necessary to justify the financial investment in these large infrastructure projects.
Thailand is creating a ‘flexible and competitive environment’ for energy storage market participation
Read the full article ↗Energy-Storage.News