Downing protects PPAs for Devon solar farms

• Downing LLP has actually authorized a brand-new power acquisition arrangement (PPA) for two of its solar farms in Devon utilizing Zeigo's online renewables purchase platform.

This is the first PPA wrapped up on Zeigo's system and also is between Downing and also an undisclosed UK power vendor. Lucy Underwood from Downing's internal property monitoring team stated that Zeigo's system "facilitated the comparison of a larger series of distributors", enabling Downing to secure the most effective terms in the marketplace.

The platform is developed to take on a few of one of the most significant barriers that block market gain access to, such as absence of price transparency, minimal market presence and the complex nature of the legal process.

Solutions consist of aggregation, accessibility to comprehensive data records, a tendering tool, a market powered by equipment finding out modern technology and also the capacity to handle energy portfolios all over the world.

In November 2020, Downing Renewables & Infrastructure Trust revealed its purpose to increase ₤ 200 million with an initial public offering (IPO) to buy a portfolio of renewables, including solar PV. Later that month, it released its Prospectus, detailing just how it had actually secured an option to obtain a seed profile for ₤ 41.4 million comprising of c. 96MWp of functional UK solar PV projects with an average operating record of six years.

Zeigo, at the same time, increased ₤ 800,000 in its seed funding round in April 2020, with the capital going towards its strategies to scale up in addition to more establishing the platform.