Statkraft signs ten-year agreement with Workspace and Gresham House for Devon solar farm
London, 08 January 2024, (Oilandgaspress): – Statkraft, Europe’s largest renewable power generator, and a leading provider of market access and optimisation services has signed a Power Purchase Agreement with Gresham House, and a Corporate Power Purchase Agreement with Workspace simultaneously, for the Gresham House-managed Beavor Grange Solar Farm in Devon. The 20MW solar farm is large enough to power the equivalent of 6,000 homes, or two-thirds of Workspace’s total power demand.
This agreement, which runs for ten years, from February 2024, will see Workspace receive as-generated power from the solar farm in Devon and receive renewable energy guarantees of origin (REGOs) to show the source of the power. Workspace have also agreed to use Statkraft’s Firming service, which converts as-generated power into baseload, allowing the company to incorporate this into their standard supply contract.A Firming service is where Statkraft take the as-generated power from the asset and buys power from the market when the generator is not producing power and sell surplus during high production periods, meaning a pre-agreed consistent amount of power is provided to the offtaker.
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