Grenergy has secured a Contract for Difference for its Fibden hybrid solar and battery storage project in Worcestershire.
The contract was awarded in the latest renewable energy auction organised by NESO, said the company.
The Fibden Farm Solar & BESS project includes 40MW/53MWp of solar capacity and 160MWh of storage, added Grenergy.
The CfD sets a fixed price indexed to the CPI for 80% of the solar generation and will run for 20 years starting between March 2028 and February 2029.
The awarded price of £65.23 per MWh represents an estimated minimum guaranteed allocation of £55m over the contract period.
Although Fibden is a hybrid project, the contract applies only to the solar output, and Grenergy plans to complement these revenues with income from complementary services and capacity markets accessible through the batteries.
Grenergy said it has a solid presence in Europe with activity in Spain, Italy, Germany, Poland, Romania and the UK.
The company is also developing Greenbox, its stand-alone storage platform, which has more than 30GWh under development.
Grenergy recently closed a 10-year financial tolling agreement for its 600MWh Batteries Oviedo project in Spain.
It has also secured capacity contracts for 2.1GWh of stand-alone storage in Poland and obtained a grant of nearly €8m for other projects totalling 136MWh in the country.
Grenergy continues to analyse opportunities to expand Greenbox’s pipeline and close new tolling agreements across its six European markets.