RenewableUK, Solar Trade Association and TechUK are partnering to promote the transition to a net zero economy through encouraging uptake of power purchase agreements (PPAs).
TechUK will be encouraging its member companies to consider setting up long-term power purchase agreements (PPAs) to stimulate UK-based renewable energy generation.
The three groups aim to bring together energy buyers directly with renewable energy providers to stimulate a market in PPAs which can underpin the decarbonisation of the UK power sector.
Wind and solar are now the cheapest forms of new power generation in the UK. There is over 10GW of large-scale solar being planned in the next few years and over 2GW of solar and 3.5GW of wind generation with planning permission and grid connection agreements in place.
In parallel, the STA and RenewableUK will be encouraging their members to work more closely with the UK technology sector to integrate smart systems into the growth of the renewable and energy storage industries to support the development of flexible energy systems.
Other aims include integration of smart energy and heat systems alongside renewable assets in residential buildings.
To kick off the three organisations are planning a series of initial activities.
The organisations will host a virtual marketplace, called RE-Source UK Virtual, on 21 September, providing an opportunity for buyers and sellers to meet.