Norwegian state-owned utility Statkraft AS has finalized an agreement to purchase power from an 80-MWp solar plant coupled with a battery energy storage system (BESS) located in the East Riding of Yorkshire, UK.
The deal includes a power purchase agreement (PPA) for the Scurf Dyke Solar Farm near Driffield, alongside a separate agreement to optimize an adjacent 8-MW storage facility.
According to a statement released on Tuesday, Statkraft signed these contracts with FP Lux Group, a fund managed by re:cap global investors ag, which acquired the asset from German renewables firm BayWa r.e. AG in January 2023. BayWa r.e. continues to be involved as the engineering, procurement, and construction (EPC) services provider.
The PPA incorporates a minimum strike price structure, enabling Statkraft to curtail generation during periods of negative pricing using its virtual power plant (VPP) system to manage associated risks.
