July 13, 2023: Software program and advisory agency Pexapark mentioned on July 5 that it’s supporting a milestone hybrid energy buy settlement (PPA) and optimization settlement that can enhance the solar-storage market within the UK.
The deal, introduced by fairness fund DIF Capital Companions, includes a 55MW photo voltaic farm with a 40MW/80MWh battery storage system at Leighton Buzzard and is the UK’s first bankable and unsubsidised co-located hybrid PPA, in accordance with Pexapark.
The transfer will present assured income to your entire solar-BESS system for a 10-year time period.
Within the UK, 45% of all planning functions for photo voltaic initiatives submitted within the final two years had been for hybrid programs that included battery storage, Pexapark mentioned.
And the corporate says its personal evaluation exhibits that 64% of renewable vitality companies within the wider European market are actually trying to introduce or improve the proportion of vitality storage of their portfolios. .
Nonetheless, Pexapark mentioned PPAs for co-located initiatives stay troublesome to agree as a consequence of their complicated operational use profiles and contracting constructions, with restricted choices obtainable for financing of solar-hybrid schemes.
Brian Knowles, director of storage and adaptability at Pexapark, mentioned the brand new nature of the UK settlement “displays our dedication to discovering new PPA options for unsubsidized renewable vitality builders and offtakers, with an revenue contract that provides enticing returns and low threat profiles for traders ” .