1st October 2018
Erova, an independent energy trading and services company based in Dublin with offices in London and Amsterdam, announces it has contracted with Greencoat Renewables PLC to manage the balancing requirements for two wind farms (Knockacummer and Kill Hills) as required under the new Integrated Single Electricity Market (I-SEM).
As of October 1st all generators within the Irish market are required to be “balance responsible” under the new I-SEM arrangements. Knockacummer and Kill Hills have contracted with Erova to manage this balancing requirement.
Erova provide generators with a range of trading services from traditional PPAs through to flexible Route to Market trading arrangements. With the Imbalance Agreement, Erova can provide trading solutions to generators who are already in a contractual relationship for REFIT payments without the need to terminate the current arrangements.
Michael Donnelly of Erova Energy said: “We are excited about our new contract offering to the Irish market and are delighted to have entered into an agreement with Greencoat Renewables PLC. Working closely with clients and banks Erova have been able to develop a bespoke solution to some of the unique challenges posed by the I-SEM.
About Erova Energy Limited
Erova was established in 2015 and has grown rapidly in both financial strength and products offered to the market. Having created a bespoke trading platform with 24/7/365 operation capabilities and trading across the full energy spectrum (power, gas and certificates), Erova has been able to offer bespoke Route to Market agreements in the UK and Ireland and A-rated Mitsui & Co., Ltd. has made investment in March 2018.
For more information, please contact Ireland: +353(0) 1 474 4817 / UK: +44 (0)7733 184 654, email trading@erovaenergy.ie or visit the Erova website at www.erovaenergy.com