The Renewable Exchange platform saw more than 15 suppliers tender for Power Purchase Agreements (PPAs) for Aviva Investors’ onshore wind farms. They offered multiple ways of monetising power, subsidy and embedded benefits from the wind farms and as a result Aviva Investors has closed 23 PPAs.
Aviva assets involved included the 18MW Den Brook and 17.5MW Turncole wind farms, originally developed by Renewable Energy Systems.
The Renewable Exchange platform currently enables over 900 generators, representing 1.6GW of installed capacity, to access the PPA market, with market evaluations of forward PPA revenues. It helped Aviva Investors to benefit from reaching a wider group of buyers (in the form of electricity suppliers) to get maximum value in renewing plant PPAs.
The fact that 15 supply companies tendered for the PPAs, with a variety of options provided significant spreads in value, according to Renewable Exchange.
Robert Ogden, chief executive and founder of Renewable Exchange said, “Tendering assets ranging in size from 225kW to 18MW of installed capacity for a leading renewable asset manager Aviva Investors demonstrates that all generation assets irrespective of size can benefit from the platform’s capability. Utilising digital technology to support effective and efficient procurement decisions is critical for funds and owners of all shapes and sizes to remain competitive and fully optimise their assets in the increasingly decentralized UK market.”
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