Record volumes of solar assets have tendered their PPA contracts on the platform in recent weeks. With wholesale power prices in the UK still running at very high levels, PPA bids received for all types of renewable energy technologies remain well above prices seen earlier in the year.
‘Generators now seek to secure their PPA contracts much further into the future, too,’ says Chris Smith, Chief Commercial Officer at Renewable Exchange. ‘Assets tendering through our platform this week will lock out as far as into 2024.’
Just this week 25 solar sites are expected to execute PPAs through the Renewable Exchange platform totalling 130 MW of capacity. ‘These sites are owned by leading renewable energy investment companies and major asset management groups. This shows the market’s confidence in the value they can achieve securing PPAs now, while the prices are high,’ adds Chris Smith.
All assets tendering through the platform also take advantage of the one-click-execution feature – Lightning PPA – which allows for the tender to be digitally signed and completed instantly upon bid acceptance. The feature has gained a lot of positive feedback among generators who note the benefit of less admin time to review the documents and more confidence in the price obtained.
Renewable Exchange is the leader in utility PPA tendering and analytics in the UK and has recently supported a multi-site wind PPA tender in Germany, which marks the first step of their European expansion.