Ecotricity signs deal to buy ROCs from UK solar portfolio

• Energy vendor Ecotricity has actually authorized a long-term agreement to supply and acquire Renewable Obligation Certificates (ROCs) from a UK solar portfolio.

The portfolio concerned is possessed by Solar Growth Limited, an Armstrong Capital-managed lorry, with the intention of maximising the profits from ROCs by positioning them right into a safe long-term offer.

An affordable tender process using the Renewable Exchange platform, an online digital industry for power purchase agreements (PPAs), led to Ecotricity being picked to participate in the 15-year contract. This, Armstrong Capital said, will certainly enable Solar Growth to focus on optimising its power generation by responding to the volatility of the wholesale power markets, which is additionally kept track of via the Renewable Exchange system.

Sam Dickerson, business supervisor at Ecotricity, said that Renewable Exchange gave a "great opportunity", with the business anticipating continuing the partnership.

"Sourcing ROCs directly from a renewable generator is critical for us to fulfill our requirements in addition to permitting extra resources of eco-friendly power to be constructed," he added.

Armstrong Capital itself specialises in the management of financing into UK-based solar projects as well as other power companies. Established in 2013, it has actually managed over ₤ 300m of funding for UK solar projects so far, as well as in January penciled a joint endeavor with Danish investor European Energy to seek a 500MW solar and also storage space pipe in the UK.

Jonathan Hick, financial investment director, mentioned that the company is "happy to have signed a lasting agreement to market the ROCs from our site to Ecotricity over the complete life of the aid period".