DIF Capital Partners has secured a ten-year power purchase agreement (PPA) for a solar-plus-storage project in Bedfordshire, England.
The project will encompass a total capacity of 55MW of solar energy, coupled with a 40 MW/80MWh of storage capability.
The deal is considered to be the UK’s first bankable and unsubsidised co-located PPA and optimisation agreement (hybrid PPA) for solar energy.
This deal was facilitated by Swiss consultancy Pexapark – according to the consultancy’s recent survey data, nearly 64% of renewable energy businesses are now seeking to introduce or increase the proportion of energy storage in their portfolios.
Jack Rankin, PPA Transaction Advisory Regional Lead GB & Ireland at Pexapark, added: “We anticipate that this deal will be the first of many, representing a turning point for the European sector in the deployment of bankable solar hybrid projects.
“In the long run, agreements like this will be essential for integrating high shares of intermittent renewable energy generation into the grid.”
