Grenergy has secured a Contract for Difference (CfD) for its Fibden hybrid solar and battery storage project in Worcestershire, the company said.
The award was granted in the latest renewable energy auction organised by NESO.
The Fibden Farm Solar & BESS project comprises 40 MW/53 MWp of solar capacity and 160 MWh of battery storage. The CfD applies only to the solar generation component.
Under the terms, the contract sets a fixed strike price indexed to the Consumer Price Index for 80% of the solar output and will run for 20 years starting between March 2028 and February 2029.
Grenergy said the awarded price of £65.23 per MWh represents an estimated minimum guaranteed allocation of £55 million over the contract period.
The developer plans to supplement CfD revenues with income from ancillary services and capacity market participation enabled by the battery system.
Grenergy said it maintains a strong European footprint, with operations in Spain, Italy, Germany, Poland, Romania and the United Kingdom.
The company is also advancing Greenbox, its standalone storage platform, which has more than 30 GWh under development.
Grenergy recently signed a 10-year financial tolling agreement for its Batteries Oviedo project in Spain, secured capacity contracts for 2.1 GWh of standalone storage in Poland, and obtained nearly €8 million in grants for additional Polish projects totaling 136 MWh.
The company said it continues to evaluate opportunities to expand the Greenbox pipeline and secure further tolling agreements across its six European markets.
