Total Gas & Power (TGP) has teamed up with Reactive Technologies (RT) to create a new Power Purchase Agreement (PPA) for renewable generators.
It aims to help overcome the challenges seen in the renewables industry as incentives have been removed and embedded benefits are coming under increased pressure.
A PPA is a financial agreement where a developer arranges for an energy system to be installed on a customer’s property at little to no cost. The developer then sells the power generated to the host customer at a fixed rate.
The firms behind the PPA also hope to make the most of promising opportunities on the horizon as the importance of flexibility increases.
They say it will offer solar generators the most competitive power prices through advanced imbalance management, improved forecasting and increased access to various markets.
The businesses have already secured a multi-year 310MW per annum solar PPA in a competitive tender.
Nick Hodgson, Head of Embedded Generation at Total Gas & Power, said: “Working with Reactive Technologies to achieve this innovative solution has ensured added value for solar generators and enhanced our imbalance management ability.
“With the capacity of intermittent generation in the UK growing, this collaboration between TGP and RT will no doubt assist renewable developers and grid operators alike.”