SmartestEnergy has agreed a series of CfD AR7 power purchase agreements with AGR Renewables covering a 192MW UK solar portfolio.
The agreements span four co-located projects with expected annual output of around 209,000MWh, SmartestEnergy said.
The sites at Eaton Socon, Little Hale, Priory Generation and Wymondley were awarded under the UK government’s CfD Allocation Round 7, AGR Renewables added.
The PPAs provide a bankable and flexible route to market from commissioning through to the end of the CfD tenor.
AGR Renewables is backed by investor Railpen.
“A reliable and flexible route to market PPA is crucial for projects of this size, and finding the right partner required an intentional approach.” said John Collier, investment director at AGR Renewables.
“We needed to source a partner who could combine strong pricing with deep market expertise, and help us navigate the complexities of bringing large transmission-connected solar sites online.”
“We’re proud to be working with AGR Renewables as they bring forward a significant wave of new solar capacity into the UK.” said Will Russell, business development manager at SmartestEnergy.
“Our partnership with AGR Renewables reflects the trust they place in us to help these distribution and transmission connected projects operate successfully and deliver long-term value.”
“As a long-term investor in energy, we’re committed to backing high quality companies and projects that strengthen the UK’s energy security.” said Lewis Vanstrone, head of infrastructure at Railpen.
“Our partnership with AGR Renewables and SmartestEnergy is the latest milestone in the UK’s renewable generation capability, which will create stable assets that deliver value over decades.”