ElectroRoute said on Monday it has signed three long-term Power Purchase Agreements (PPAs) with Innova Renewables to provide trading and market access services for solar projects totaling 61 megawatts (MW) in Great Britain.
The three solar projects, developed through a joint venture between Innova and Schroders Greencoat, have secured government-backed Contracts for Difference (CfDs). Each PPA has been structured to match the 15-year duration of the CfDs. ElectroRoute will utilize its 24/7 trading platform to optimize electricity generation and ensure integration with the UK grid.
“ElectroRoute is proud to partner with and support Innova on these solar projects,” said Brian Kennedy, Chief Commercial Officer at ElectroRoute. “This partnership reflects the trust placed in ElectroRoute’s expertise in energy trading and risk management and further underscores our commitment to supporting the renewable sector with innovative and dependable trading solutions.”
The three projects are expected to generate more than 65,000 megawatt-hours (MWh) of renewable electricity annually, helping to support the UK’s decarbonisation efforts and long-term climate targets.
“We are delighted to be working with ElectroRoute and have found their approach particularly flexible in meeting the financing needs of these projects,” said Andy Peyman, Head of Energy Sales at Innova Renewables. “The fact that we were able to finalise these contracts in a relatively short period is a testament to the collaborative approach taken by both companies.”
ElectroRoute’s portfolio of PPAs now spans markets across Great Britain, Ireland, and mainland Europe. The company said it continues to expand its role in the energy transition by offering tailored route-to-market and trading solutions for renewable energy producers.
