Statkraft Secures Triple PPA for 20MW UK Solar Farm
- Statkraft has enabled Gresham House & Workspace Group to secure power for 10 years from the 20MW Beavor Grange Solar Farm in Devon, providing budget certainty and helping to triple renewable energy capacity by 2030.
Statkraft has signed two Power Purchase Agreements (PPAs) with Gresham House and Workspace Group for the 20MW Beavor Grange Solar Farm in Devon, England. The agreements will provide as-generated power from the project to Workspace and renewable energy guarantees of origin (REGOs). The 10-year agreement runs from February 2024 and also entails Statkraft's Firming service which converts as-generated power into baseload. This offers budget certainty to the offtaker and facilitates building more renewable energy infrastructure. Through issuing a request for proposals (RFP), Statkraft linked the two parties and enabled them to secure prices for 10 years. In addition, the agreement marks a significant step towards Workspace's net zero carbon commitment and supports countries' aim to triple their renewable energy capacity by 2030.
What Benefits Do Gresham House and Workspace Group Gain from Statkraft's PPA?
- Gresham House and Workspace Group benefit from Statkraft's PPA with long-term budget certainty and access to as-generated renewable electricity.
- The 10-year PPA ensures a steady supply of power from the Beavor Grange Solar Farm to the two companies.
- The Firming service provided by Statkraft converts as-generated power into baseload, making energy management more efficient for both parties.
- With the RFP, Statkraft linked Gresham House and Workspace Group and enabled them to secure fixed energy prices for 10 years.
- The agreement accelerates the two companies' progress towards their respective net zero carbon commitments.
- Gresham House and Workspace Group are contributing to the UK's goal of tripling renewable energy capacity by 2030.
