The deal sees Statkraft’s portfolio of solar energy buy agreements (PPAs) enhance to 1,425 MW in Great Britain. The firm additionally has a number of gigawatts of contracted versatile capability on the British grid.
Statkraft signed a 10-year PPA and optimization settlement for an 80 MW photo voltaic farm and eight MW battery storage in Yorkshire, England. The Scurf Dyke Solar Farm is without doubt one of the largest photo voltaic installations within the United Kingdom.
The Norwegian generator signed the PPA cope with worldwide investor FP Lux Group, a renewable power fund suggested by re:cap, itself an entirely owned subsidiary of FP Lux Group’s father or mother group which is First Private.
Scurf Dyke Solar Farm obtained its license to generate electrical energy from trade regulator Ofgem on April 15, 2024, however the mission’s battery power storage system (BESS) has but to be commissioned. BayWa re constructed an 8 MW/16 MWh BESS, which has already offered EPC companies for the event and building of the photo voltaic plant.
Statkraft argued that the financing technique of the Scurf Dyke Solar Farm meant that securing a long-term offtake contract was important to reveal a transparent market route for the ability and the Renewable Energy Guarantees of Origin (REGO ) certificates that the mission can create. The plant beforehand secured a 49.9 MW allocation at a strike value of GBP 45.99 ($59)/MWh contract-for-difference (CfD) allocation within the fourth CfD spherical for Great Britain. The CfD covers deployment within the 2024-25 monetary 12 months.
“After a aggressive tendering course of, Statkraft has been chosen because the offtaker for the Scurf Dyke. Given the dimensions of the mission, the companions concerned and the potential addition of a BESS, we’re extraordinarily excited to be concerned,” stated John Puddephatt, Statkraft’s PPA supply supervisor. “Due to the staff’s vital expertise, as soon as chosen we had been in a position to progress the contracts easily and meet Scurf Dyke’s timelines. “
A Statkraft spokesperson additionally confirmed pv journal that the corporate has already signed PPAs with six tasks included within the fourth part of the CfD. These embody Scurf Dyke, two seven-year PPAs introduced in July 2023 with British power generator Infinis, and three PPAs which have but to be introduced publicly.
In July 2024, Statkraft signed a PPA with UK developer Luminous Energy protecting a 28.5 MW photo voltaic plant in England that can get mounted electrical energy costs by means of the fifth spherical of CfD allocation , in addition to a digital company PPA with Bristol Airport. A Statkraft spokesperson confirmed that the corporate’s photo voltaic PPA portfolio in Great Britain is at present 1,425 MW, and it additionally has 2.4 GW of contracted versatile capability on the British grid, together with batteries and fuel.
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Statkraft’s announcement of a brand new photo voltaic plus storage PPA within the United Kingdom follows a big decline in battery revenues from their earlier excessive watermark. By 2022, revenues for the BESS fleet in Great Britain will hit GBP 156,000 per MW per 12 months, in line with Modo Energy. The developer of the battery analytics platform noticed revenues averaging GBP 27,000 per 12 months from November 2023 to February 2024. Statkraft’s spokesperson acknowledged that the operation of short-term wholesale markets that dealer is of course simply modified for batteries. “It’s the character of this asset class and short-term optimization.”
“Statkraft is ready to supply numerous threat administration constructions underneath battery optimization agreements by means of long-term flooring, which give draw back safety, in addition to forward-market hedging that enables house owners to handle the danger related to this volatility,” they stated.
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