Enefit and and Danish PV developer Nordic Solar have signed an agreement to sell the production of the 100MW Moletai PV power plant in Lithuania to the market.
The site started its full-scale electricity production in the end of April and is the largest in the Baltics, according to the developers.
Director of energy trading and portfolio management at Enefit’s parent company Eesti Energia Armen Kasparov said: “In order to be able to sell the electricity they produce on the market, producers must sign a contract that guarantees the sale of the electricity they do not have and the purchase of the surplus, the so-called open supply.
“Enefit combines the open supply and power sales contract into one, thus offering larger producers the possibility to sell electricity on the market through Enefit.”
In addition to market access, the agreement includes several other benefits for producers, including a solar farm production forecasting service, balance responsibility and the possibility to limit production during low or negative price hours through a virtual power plant.
Kasparov added: “As larger solar farms have production volumes in the tens of gigawatt-hours per month and high turnover rates, an open supplier can create significant credit risk for the asset owner under normal payment conditions.
“By contrast, Eesti Energia’s credit rating allows us to offer secure balance sheet management regardless of the company’s production volumes.”
Nordic Solar’s chief investment officer Holger Bang added: “We are very pleased with the agreement we have entered with Enefit and with the good collaboration.
“Nordic Solar’s new solar park located in Moletai is Lithuania’s largest solar park to date with a production capacity of 100 MWp.
“Selling the production to the market based on the balancing agreement is important part of accelerating the rollout of renewable energy in Lithuania.”
Enefit added the Moletai solar park is paving the way for an even wider deployment of clean energy and increase the share of renewable energy in the market.
It is inviting other green energy producers who are interested in selling their renewable energy production to the market and the above-mentioned additional benefits of contracting to join the service.