U.K. energy technology company Limejump has signed a significant PPA with British investment firm NextEnergy Solar Fund.
According to Limejump, the power supply deal will contribute 120 MW of PV-generated electricity through its Virtual Power Platform, a big-data service that works with small scale renewable energy generators as well as with biogas, combined heat and power and conventional generators, enabling the owners of solar rooftops to participate in the U.K.’s grid balancing market.
Limejump said volatile prices on the U.K. power market were decisive in negotiations for the PPA. “In the wider industry, the confidence expressed by NextEnergy Solar Fund in the Limejump platform recognizes that tech and analytical knowhow is spearheading this transition to renewable resources, and providing the solution to questions raised by wider asset distribution and decarbonization,” the company stated.
The London-based business added it is cooperating with NextEnergy Solar Fund on two battery installations. “Managing the largest portfolio of battery storage assets in the U.K., Limejump is able to provide both experience and connectivity for these developments,” it said.
NextEnergy Solar Fund owns and operates 691 MW of solar capacity across 87 PV plants in the U.K.
Limejump secured approval for its virtual power plant technology in August. The platform is said to be the first aggregated unit to operate in the National Grid’s balancing mechanism market.
Limejump’s stated aim is to contract with generators including solar, wind, hydro, anaerobic digestion, landfill gas, battery storage and even diesel.
In National Grid’s most recent auction for the selection of dynamic capacity to help balance the grid, Limejump was able to secure contracts for 21 MW of power – representing 84% of the non-balancing-mechanism, total true dynamic volume secured by grid operator. In the ‘firm frequency response’ auction held in August, the company was awarded 30% of the allocated capacity, providing 120 MW of electricity.