Renewable Exchange, Solar Growth and Ecotricity have entered into an agreement to supply and purchase Renewable Obligation Certificates (ROCs) from a portfolio of operational solar projects over a 15-year period.
Solar Growth was able to maximise revenues from Power and ROCs by placing the ROCs in a secure long-term deal through a competitive tender process. Furthermore, this allows Solar Growth to focus on optimising power generation by reacting to the volatility of the wholesale power markets, which is monitored via the Renewable Exchange platform.
For Ecotricity, the transactions support their continued market growth as a leading UK power purchase agreement (PPA) provider to multiple investment funds on both short and long term PPA’s.
Sam Dickerson, commercial manager, Ecotricity, added, “Ecotricity is delighted to secure the long-term ROC offtake agreement. Sourcing ROCs directly from a renewable generator is crucial for us to meet our requirements along with allowing more sources of green energy to be built. Renewable Exchange provided another great opportunity with this process and we look forward to continuing the relationship.”
Robert Ogden, CEO and founder of Renewable Exchange, “The business has experienced rapid growth throughout 2020 as the challenges of COVID 19 have led to more generators turning to Renewable Exchange to maximise revenue from their existing assets. Leveraging cutting edge technology such as Renewable Exchange enables asset owners of all sizes to see all their offtake options and respond to price signals in order to maximise value retained.”
