Limejump has agreed terms on a Power Purchase Agreement with Next Energy Solar Fund, potentially bringing 120MW of solar PV into its virtual power plant (VPP).
The aggregator said it is also working with Next Energy on its battery storage projects, which were connected at two of its solar farms in May. The fund is mulling further investment in co-located storage.
Limejump said the PPA deal enables Next Energy to try to take advantage of price volatility while reducing risk and imbalance costs.
The solar fund has almost 700MW of operational PV and is evaluating some 600MW with a view to acquisition or development.
The company said recently that it hopes to announce construction of subsidy-free solar plants in April.
Next Energy Solar Fund last month posted a 34% profit jump to £18.4m for the six months to 30 September as output increased 7.9% due to record breaking irradiance levels over the period and a 122MW increase in installed capacity.
Next Energy Solar Fund buys batteries, plans subsidy-free solar by Spring
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Next Energy buys another 67MW of solar PV
Next Energy snaps up two more solar farms
Next Energy buys 22MW of solar farms
17% of UK solar capacity ‘to be sold within 12-18 months’
Solar drives UK renewables output to record high
As solar generation makes history, National Grid starts to feel the burn
Solar and storage must bow to grid king
Solar farms with batteries can keep earning Rocs
Battery storage makes unsubsidised solar stack up for Kingfisher
Business park ‘will become carbon negative’ with 15MW unsubsidised solar plus storage
Anglian Water plans 30MW of solar, trials flow storage
National Grid predicts significant solar growth
Nottingham City Council: Solar ‘absolutely still viable’, batteries next
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Shell has now become a key player in the Renewable and DSR sectors. The acquisition of Limejump seem to be sending a signal to the market of its future intention.