Limejump and NextEnergy Solar Fund have signed a new Power Purchase Agreement (PPA) for trading 120MW of solar generation.
The deal will enable the energy to be traded through Limejump’s Virtual Power Platform with National Grid, allowing NextEnergy Solar Fund to track sensitive price movements and capture prices at their peak.
The agreement will provide it with more flexibility and deliver greater revenue.
It marks a new approach to the traditional PPA, as the Virtual Power Platform provides intermittent technologies with control over their asset performance to achieve optimised efficiency and price for their generation.
The system uses learning algorithms to reduce exposure to market risk and imbalance costs, providing increased access to market for renewable generators.
NextEnergy Solar Fund is also working with Limejump on its two battery installations, which the firms say is crucial to reducing carbon-based energy sources.