How EDF Energy’s Power Purchase Agreement meets three key criteria for the fast growing renewable energy investor
Low Carbon invests in new renewable energy projects, including utility-scale solar farms, in the UK. To date it has enabled the deployment of approximately £200 million to renewable energy investments to further the development of more than 200MW of renewable capacity. Low Carbon’s portfolio of renewable energy projects is growing rapidly. In 2013 Low Carbon began collaborating with Macquarie Capital to deliver a portfolio of up to 300MW of solar parks in the UK. Under the collaboration agreement, Macquarie will provide the funding required to construct a portfolio of solar projects in the UK that could power up to 100,000 homes per year. This growth led Low Carbon to review the Power Purchase Agreements (PPA) through which they sold their electricity output and renewable energy certificates. For a renewable developer, a PPA is the tool that makes everything else possible as it secures the revenue streams that pay for the development of a site into a generation asset. During the first quarter of 2014, Low Carbon commissioned five solar park developments backed by a PPA signed with EDF Energy at the end of 2013. Low Carbon selected EDF Energy as their offtaker because the electricity company was able to provide a PPA that meets three key criteria for the fast growing renewable energy investor.