Low Carbon is a certified B-Corporation creating large-scale renewable energy to fight climate change. They build, own, and operate renewable energy assets to help protect the planet for future generations. With more than 1 GW of renewable capacity currently either in operation or construction, they are playing a key role in the production of clean energy in the UK and Europe.
Low Carbon recently partnered with Renewable Exchange to support the PPA tender process for a portfolio of 8 UK solar projects. Through this collaboration, Renewable Exchange helped take the entire portfolio to market, capitalising on the platform's relationships and reach across the offtaker landscape.
The initial tender round produced an average bid spread of £9.81/MWh across the eight sites, from a group of creditworthy offtakers, demonstrating the value of running a competitive process rather than negotiating bilaterally.
The PPAs for this portfolio were all contracted and signed instantly via the Lightning PPA, Renewable Exchange's standard-form contract, which reduces transaction risk and mitigates against within-day price volatility.
Moving forward, Low Carbon will continue to draw on Renewable Exchange's market insights and forecasts to inform its ongoing PPA strategy, delivering efficiency and market access to support future tenders.
Speaking about the tender result, Managing Director - Global Supply Chain at Low Carbon, Justin Thesiger said:
"We've worked closely with the team at Renewable Exchange for a number of years, and they have become a key partner as we continue to grow as an IPP and seek different routes to market for our assets. Using the Renewable Exchange platform to secure these PPAs has helped to deliver significant value for this portfolio and we look forward to build on this successful tender result as we bring other assets to market."
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