Statkraft has signed a Power Purchase Agreement (PPA) with Gresham House and a Corporate PPA with Workspace for the 20MW Beavor Grange Solar Farm in Devon.
The agreement, which will run for ten years from February 2024, will see Workspace receive power from Beavor Grange, as well as renewable energy guarantees origin (REGOs). The commercial business premises provider has also opted to use Statkraft’s Firming Service.
This will see the renewable power generator provide Workplace with both as-generated power from the solar asset as well as power bought from the energy market when the generator is not producing power to continuously provide a pre-agreed amount of energy.
The agreement works both ways, meaning that Statkraft will sell surplus energy from the solar farm during high production periods.
In total, the energy provided by Beaver Grange is set to provide two-thirds of Workspace’s electricity demand.
“We’re delighted to bring Beavor Grange and Workspace together in this long-term agreement,” said Andy Cooper, head of downstream at Statkraft, adding that Workplace will be able to “easily transfer this CPPA into a standard supply contract.”
“This contract is one of a growing number of Firming contracts that Statkraft has signed, and we’re anticipating even higher volumes of business in this area during 2024,” concluded Cooper.
Statkraft has also been bolstering its energy storage portfolio of late, including an agreement reached to acquire a 450MW pumped storage hydro project near Loch Ness in Scotland from Intelligent Land Investments Group (ILI) in December 2023.