Leading global asset manager Aviva Investors has closed 23 Power Purchase Agreements (PPAs) for both their medium and utility-scale onshore wind portfolios via the award winning Renewable Exchange platform.
Assets included the Den Brook and Turncole Wind farms, originally developed by Renewable Energy Systems, with an installed capacity of 18 MW and 17.5 MW respectively.
Aviva Investors is a market leader in the UK in respect of asset ownership, acquisition and development of commercial value in their infrastructure portfolios.
The Renewable Exchange platform currently enables over 900 generators representing 1.6GW of installed capacity to access market evaluations of forward PPA revenues and access the PPA market in a simple, transparent and efficient manner. Aviva Investors benefited from accessing a wider group of suppliers to ensure value maximisation in their PPA renewal.
Over 15 suppliers tendered for the PPA, providing significant spreads in value between offers and multiple ways of monetising power, subsidy and embedded benefits.
Turncole and Den Brook Wind Farms:
Darryl Murphy, Head of Infrastructure, Aviva Investors comments:
“By using best in class technology like the Renewable Exchange platform we are able to quickly run, evaluate and execute competitive tenders. Accessing a wider pool of suppliers in a simple and resource light manner has enabled us to respond to wholesale power price movements and optimise the execution of our PPAs without committing significant resources.”
Robert Ogden, CEO and Founder, Renewable Exchange, said:
“It has been a great pleasure to support the team at Aviva Investors in the optimisation of their power purchase agreements. Tendering assets ranging in size from 225kW to 18MW of installed capacity for a leading renewable asset manager Aviva Investors demonstrates that all generation assets irrespective of size can benefit from the platform’s capability. Utilising digital technology to support effective and efficient procurement decisions is critical for funds and owners of all shapes and size to remain competitive and fully optimise their assets in the increasingly decentralized UK market”
About Aviva Investors: Aviva Investors is the global asset management business of Aviva plc. The business delivers investment management solutions, services and client-driven performance to clients worldwide. Aviva Investors operates in 14 countries in Asia Pacific, Europe, North America and the United Kingdom with assets under management of £346 billion as at 30 June 2019.
Aviva Investors’ infrastructure fund management business, based in London and Paris, manages over £6 billion of direct infrastructure investments and forms part of the Real Assets business which is dedicated to providing focused investment solutions for clients. The team invests primarily in unleveraged infrastructure and debt in a broad range of sectors including social infrastructure (including PFI/PPP), utilities, renewables, power and transportation sectors in the UK and across the EU and European Economic Area.