Neas Energy has inked a 15-year power purchase agreement at three UK solar PV projects totalling 21MW managed by Ingenious Clean Energy.
The facilities were developed and constructed by British Solar Renewables and the PPA takes Neas Energy’s assets to 200MW.
Neas Energy managing director Soren Petersen said:
“The contracts are an important step in expanding our activities in the market for balancing and trading of renewables in the UK,”
“With many solar and wind power projects under development the electricity market will experience a rapid influx from renewables. This increases the demand for commercial production management and balancing services for renewables, which is our core business.
“Banks and other financial institutions supplying project financing for renewable energy projects are a critical stakeholder in settling the financial terms of PPAs. The contract with Ingenious is audited by their project financier Barclays, which is a great reference for us.”
Ingenious investment director for clean energy Jeremy Milne added:
“Neas Energy has provided us with long-term predictable revenues with reduced exposure to market risks.”