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  • Erova Energy and Finglight sign 15-year PPA for 107 MW UK solar portfolio

    Erova Energy and Finglight sign 15-year PPA for 107 MW UK solar portfolio

    Erova Energy Group (Erova) has signed a 15-year Contracts for Difference (CfD)-backed Power Purchase Agreement (PPA) with Finlight, a pan-European renewable energy platform, for a 107 MW solar portfolio in England.

    The agreement covers two solar farms that secured contracts in the UK Government’s Allocation Round 6, including Osberton, a 51.9 MW site in Nottinghamshire, and Skeeby, a 55.5 MW site in North Yorkshire. Under the PPA, Erova will provide route-to-market and optimisation services for both assets over the 15-year term.

    As more renewables connect to the grid, UK solar assets need more active management to navigate price volatility, imbalance risk and periods of negative pricing. Erova will help Finlight manage these risks and access intraday market opportunities.

    Nick Williams, CEO, Erova Energy, said: “As UK solar capacity grows, asset owners need long-term partners who can manage market risk and optimise performance over time. This agreement reflects Erova’s ability to support renewable projects with flexible PPA and risk management solutions tailored to each asset.”

    Gurpreet Gujral, CEO, Finlight, said: “This agreement gives us a robust long-term route-to-market solution for over 100 MW of solar capacity and provides valuable revenue certainty. Erova’s market expertise and long-term commitment made it a natural partner for these projects. Osberton and Skeeby represent an important part of our growing UK portfolio and our ambition to accelerate investment in clean energy infrastructure. Together with Erova, we look forward to continuing to deliver reliable renewable energy to our customers.”

    Since its acquisition by Macquarie Group in 2025, Erova has expanded its PPA capabilities, including its ability to participate in larger tenders and support longer-term contracts.

  • Erova Energy and Elgin sign long-term PPAs for 112 MW UK solar portfolio

    Erova Energy and Elgin sign long-term PPAs for 112 MW UK solar portfolio

    London, 21 July, 2026 – Elgin, a fully integrated, utility-scale solar and storage Independent Power Producer (IPP), has signed three 15-year Contracts for Difference (CfD)-backed Power Purchase Agreements (PPAs) with Erova Energy Group (Erova), which will provide route-to-market and asset optimisation services for a 112.6 MW portfolio of UK solar projects.

    The portfolio comprises three projects that secured CfD in the UK’s Allocation Round 6 auction: Thorpe (61.9 MW) in Staffordshire, Aston Flamville (26.2 MW) in Leicestershire and Maes Mawr (24.5 MW) in Glamorgan, Wales. Construction is already underway, across the portfolio, which is expected to power approximately 24,000 homes across the UK.

    Under the 15-year agreements, Erova will provide route-to-market, trading and balancing services for the portfolio, supporting the efficient delivery of renewable electricity to the grid throughout the lifetime of the contracts. Since its acquisition by Macquarie Group in 2025, Erova has expanded its PPA capabilities, including its ability to participate in larger tenders and support longer-term contracts.

    The agreements represent another important step in progressing the portfolio towards operation, following the commencement of construction across the portfolio and a recent financing secured to support the delivery of Elgin’s overall UK pipeline.

    Nick Williams, Chief Executive Officer, Erova said:

    “These agreements highlight Erova’s ability to support larger renewable projects in the UK through flexible, long-term PPA and risk management solutions. As solar generation continues to evolve, effective market optimisation is becoming increasingly important. Our trading platform actively manages negative pricing events while capturing intra-day trading opportunities where available, helping to optimise asset value throughout the life of the projects. We’re pleased to bring this approach to Elgin’s portfolio and support these projects as they move into long-term operation.”

    Dermot Kelleher, Chief Executive Officer, Elgin, said:

    “Establishing a strong route-to-market partnership is fundamental to delivering reliable, low-carbon electricity over the long term. Alongside construction, financing and the CfD awards already secured, these agreements with Erova are another important step as we progress these projects from development into long-term operation. We look forward to working with Erova as these projects are brought online and begin contributing to the UK’s energy transition.”

  • Macquarie announces the acquisition of Erova Energy

    London, 25 July 2025 – Macquarie, through its Commodities and Global Markets group (Macquarie), has reached an agreement to acquire 100 per cent of Erova Energy Group (Erova).

    Erova is a renewable asset optimisation company operating in the UK and Ireland with capabilities across Europe. It services a growing portfolio of wind, solar, waste-to-energy and battery storage assets with power purchase agreements (PPAs), market access, balancing services, as well as providing meter registration services. More recently, Erova expanded into renewable energy supply for industrial and commercial customers in Ireland through Erova Energy Supply, 

    Renewable energy producers rely on companies like Erova to manage price risk, enhance operational efficiency and meet grid requirements. As the world’s renewable energy capacity continues to grow, there is increasing demand for these services to facilitate the energy transition.

    After a decade of sustained growth in the UK and Ireland, Erova has significant potential to scale its platform in existing markets and internationally with the support of Macquarie’s investment and extensive experience in global energy markets.

    Rishil Patel, Senior Managing Director at Macquarie, said: “Erova is uniquely positioned in its ability to offer four key services to clients including PPAs, route to market, balancing services, and energy supply logistics. This is a strategic acquisition for Macquarie that will help unlock barriers to Erova’s growth.”

    Nick Williams, Co-CEO at Erova said: “Given the UK and Irish Governments’ ambitions to have substantially all energy generation from clean power by 2030, we believe demand for innovative renewable asset trading services will continue to grow. Bringing together Erova’s existing platform and highly skilled and experienced team, and combining it with Macquarie’s balance sheet strength, access to capital and market-leading access to power trading liquidity[1], presents a highly attractive proposal for both existing and new renewable asset owners.”

    Following Macquarie’s acquisition, Erova will continue to operate from offices in Dublin and London. Macquarie has been investing in Ireland’s energy, transport and social infrastructure sectors for more than two decades. In the UK, Macquarie has been investing in essential energy, transport, utilities and telecommunications infrastructure since 1989, and is one of the most active investors in its offshore wind sector.

    Erova is currently partly owned by its four founders, who will remain part of the senior management team, and by Mitsui & Co., Ltd.

    The transaction is subject to closing conditions.

    [1] Energy Risk Commodities Rankings 2024[1] Energy Risk Commodities Rankings 2024

  • Erova Energy Signs PPA deal with CareyGlass and Curraghgraigue Wind Farm

    Erova Energy Signs PPA deal with CareyGlass and Curraghgraigue Wind Farm

    Erova Energy has signed a corporate PPA deal CareyGlass for the supply of renewable power from Curraghgraigue Wind Farm

    DUBLIN– 6th February 2025

    CareyGlass in Nenagh, Co. Tipperary, have signed a Corporate Power Purchase Agreement (CPPA) with Erova Energy, securing the supply of renewable electricity to power their operations. The agreement aligns with both companies’ sustainability commitments, ensuring the supply of locally produced green energy while contributing to Ireland’s transition to a low-carbon economy.

     

    Under the terms of the deal, Erova Energy will provide CareyGlass with renewable electricity sourced from Curraghgraigue Wind Farm situated outside Nenagh.

     

    Managing Director of Curraghgraigue Wind Farm, Baden Powell, said: “By supplying clean, renewable wind energy to large energy user CareyGlass, we are not only contributing to the reduction of greenhouse gas emissions but also aiding businesses in the pursuit of more efficient and responsible energy use. This is a 30-year commitment to generating green electricity. It is immensely rewarding to see it being utilised so close to its source, demonstrating the tangible benefits of our dedication and innovation.”

     

    Danny Mills, Head of Erova Supply, welcomed the agreement, stating: “This partnership demonstrates how large corporate businesses can take direct action to decarbonise their operations while securing price stability. We are delighted to support CareyGlass as part of their sustainability journey and contribute to Ireland’s renewable energy future.”

     

    Corporate PPAs play a crucial role in accelerating investment in renewable energy infrastructure by providing revenue certainty to developers. This agreement showcases how large energy consumers can proactively reduce their carbon footprint while managing energy costs effectively.

     

    CareyGlass were supported during this PPA process by Exemplar Energy from Cork. CareyGlass’s long-term commitment to renewable energy reflects a growing trend among Irish businesses looking to enhance sustainability and resilience in the face of evolving energy challenges.

     

    Sinead Gleeson from CareyGlass said: “By entering our second CPPA for renewable energy, we are ensuring that we are playing our part to reduce emissions with another source of renewable electricity, helping achieve our sustainability goals.”

     

    -ENDS-

    About Erova Energy:

    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. A-rated Mitsui & Co invested in the company in March 2018. See http://erovaenergy.com/wp/

  • Erova Energy acquires bespoke GB supplier EnDCo

    LONDON – 4th April 2023

    Expansion into UK supplier market and metering operation services supports growth strategy

    Erova Energy has today acquired 100% of EnDCo. Trading under the company name of EPG Energy Limited, it is a UK based energy supplier specialising in Route to Market and trading solutions for large industrial customers.

    This transaction enables Erova and EPG Energy to expand into new areas such as fully backed green supply. EPG’s focus on meter level logistics and Erova’s imbalance management expertise gives asset owners and suppliers access to fully outsourced energy operations.

    Erova was established in 2015 and has grown rapidly into a leading provider of energy management services, focusing on supporting the transition to a Net Zero world.   With 2022 turnover exceeding €500 million, Erova now manages over 1GW of renewable and flexible generation across a range of Route to Market structures including Power Purchase Agreements and Revenue Optimisation Services in Ireland and the UK.

    Powered by the latest in technology and trading analytics, Erova’s focus is on risk management and revenue optimisation of a variety of generation technologies including wind, solar, hydro, bioenergy, and battery storage. Combining technology with a best in class trading team Erova provides trader lead optimisation and balancing services across Europe.

    EPG Energy (trading as EnDCo) is an electricity supplier operating in the UK industrial and commercial market, providing its customers with direct access to the wholesale electricity market on a transparent and independent basis. Ownership transfer of EnDCo to Erova will open new commercial opportunities for both EnDCo and Erova whilst maintaining EnDCo as an independent supplier.

    Combining the synergies of both parties with EnDCo’s core metering and trading systems coupled with Erova’s established market presence and increased financial resources, new products and services should be brought to the GB market space.

    Commenting on the deal, Les Abbie, CEO at EnDCo said:

    “I am excited by the growth potential of teaming up with Erova. We will be able to move into new areas of the market and expand our customer base while continuing to operate the same business model.”

    Nick Williams, Director of Origination at Erova, said:

    “We welcome the EPG Energy team to the Erova family. They play a strategic role in helping us expand our offering to the UK supplier market, and support us in extending our metering operations services. “EPG Energy will maintain their independence to providing services and market pricing to generators, with the added advantage of having access to Erova’s financial strength.”

    FRP’s Corporate Finance team, led by James Cooper and supported by Cameron Robertson, advised the shareholders of EnDCo on its sale to Erova, providing sell-side advisory services including preparation for sale and presenting the business to Erova.

    Commenting on the deal, James Cooper, Director at FRP Corporate Finance said:

    “EnDCo is a true pioneer taking a different approach to other energy suppliers and has created a niche service offering which is highly complementary to Erova’s growth strategy. The deal is an important milestone in the exciting future of the company and we look forward to seeing the continued growth and success of the business under Erova’s ownership.”

    The acquisition was supported by Birketts on behalf of EPG Energy Limited, led by Caroline Nicholls (Corporate) and supported by Lisa Hayward (Employee Incentives), Robbie Watson (Tax) and Alex Price (Corporate). Burges Salmon’s Corporate and Energy team (led by Jonothan Eves and Mark Devlin) advised Erova.

     

     -ENDS-

    About Erova Energy:

    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. A-rated Mitsui & Co invested in the company in March 2018. See http://erovaenergy.com/wp/

    About EPG Energy Limited:

    EnDCo is the brand name of EPG Energy Limited, a UK-based energy supply business operating in the corporate sector. EnDCo takes a different approach to most suppliers by “unbundling” all of the charges & benefits of electricity procurement (or generation). Passing each element, including the wholesale price of power, through to the customer at cost. See https://www.endco.co.uk

    About FRP:

    FRP specialises in forensics, corporate finance, debt, restructuring and financial advisory, delivering strategic solutions across a broad range of situations. Their five pillar services complement each other. Drawing on experts within each of their service areas to put the best people in place for each circumstance. See https://www.frpadvisory.com

  • Erova Energy begins trading its largest UK Wind Farm

    LONDON – 15th August 2022

    Erova Energy has started the balancing management of Greencoat’s 72MW Braes of Doune Wind Farm

    Erova Energy has expanded its trading relationship with Greencoat through the signing of a long term power purchase agreement (PPA) for the Braes of Doune wind farm. The onshore wind farm has been in operation since June 2007 and is comprised of 36 turbines, with a total capacity of 72MW. 

    Greencoat own 100% of the wind farm following a 50% acquisition in March 2013 and then acquiring the remaining 50% in February 2021. The site is supported under the Renewable Obligation Scheme which Greencoat will manage independently whilst Erova will manage the day-to-day market access, forecasting, and balancing of the wind farm. The Braes of Doune also participates within the Balancing Mechanism with Erova acting as the Lead Party.

    Erova has quickly become a leading short-term power trading expert in Europe, operating across the UK, Ireland, Germany, France and the Netherlands. It provides generators with a range of trading services, from traditional PPAs through to flexible route-to-market trading arrangements. The addition of the Braes of Doune takes Erova’s generation portfolio to over 1GW and further additions including Battery Storage projects are expected before the end of the year. 

    Nick Williams, Director of Origination, Erova Energy, said: “We are delighted to be expanding our relationship with Greencoat, utilising our bespoke PPA structure that allows the wind farm to maximise its overall trade value. Not to mention the Braes of Doune is a great wind farm that was one of the first renewable assets I worked on back as an analyst, it’s great to be working with it again”

     

    About Greencoat:

    Greencoat Capital LLP is a specialist manager dedicated to the renewable energy infrastructure sector. It has offices in London and Dublin and approximately £7 billion under management, making it one of the largest dedicated managers in Europe. It was founded in 2009 and currently has fund mandates with strategies investing into bioenergy, renewable heat, solar and wind energy infrastructure in the UK, Europe and the United States.

     

    About Erova Energy:

    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. A-rated Mitsui & Co invested in the company in March 2018. See http://erovaenergy.com/wp/

    Enquiries

    For all enquiries, please contact Nick Williams, Origination. +4477 33 184654 nick.williams@erovaenergy.ie

  • Erova signs 15 year PPA with Clogheravaddy 2

    RESS 1 Wind Farm to Commence Operation under Erova PPA

    Dublin– 4th February 2022

    Erova Energy Ltd has entered into a 15-year Power Purchase Agreement with the Clogheravaddy 2 wind farm, a 10.8 MW project in Co. Donegal.

    The wind farm was successful in the country’s first RESS Auction. Under the agreement, Erova will manage the sale of the wind farm’s energy into the Irish Single Electricity Market on a 24-hour basis including all forecasting and balancing requirements. To secure the PPA Erova provide A Rated security.

    Michael Donnelly, Ireland Head of Origination, Erova Energy:
    “Erova is very proud to provide a route to market for the Clogheravaddy 2 wind farm, one of the first RESS 1 projects to connect to the grid and commence generation. Erova’s experience in trading the energy from government supported and merchant renewable projects in Ireland and abroad means that we are well placed to ensure Clogheravaddy 2 performs to the highest standard in the Irish market”.

    Erova will be providing the route to market for 14 projects who were successful in the RESS 1 auction, and it is keenly anticipating the upcoming RESS 2 auction where we will continue to offer the most competitive routes to market for any successful participants.

     

     -ENDS-

     

    About Erova Energy:

    Erova Energy is an energy trading company based in Dublin that commenced trading in the UK and Irish power markets in July 2015 and now has offices in Dublin, London and Amsterdam. Erova has unique expertise in short term traded markets with traded volumes in excess of 150 GWh/month across both proprietary and client-based positions. Erova services include interconnector trading, imbalance management, trading of renewable certificates, BESS trading, bespoke trading analytics, renewables forecasting and energy trading risk management solutions. We provide 24/7 shift trading with continuous market coverage 365 days a year. See http://erovaenergy.com/wp/

     

    Enquiries

    For all enquiries, please contact Michael Donnelly at michael.donnelly@erovaenery.ie 

  • Open Energi and Erova Energy launch UK’s first fully automated energy optimisation and trading system

    Dynamic Demand 2.0 Traded will deliver optimum return on investment for energy storage developers

     

    LONDON – 10th March 2020

    Open Energi, the UK’s leader in the automated optimisation of distributed energy, has announced the launch of Dynamic Demand 2.0 Trader – a partnership agreement with energy trading specialist Erova Energy. The partnership is the first of its kind to offer fully automated algorithmic optimisation and route-to-market services, promising higher returns for flexible energy assets and renewable generators.

    The combined best-in-class systems will maximise flexibility benefits for battery storage assets and gas peakers by accessing traded revenues via the Wholesale market and Balancing Mechanism.

    To fully unlock the potential of flexible energy assets, automated real-time dispatch is increasingly necessary; for example, to comply with new battery warranties, which feature variable SOC dependencies. Dynamic Demand 2.0 Traded will benefit from Open Energi’s proven ability to optimise asset positioning in volatile traded markets through its Dynamic Demand 2.0 fully automated control platform, while Erova Energy’s trading expertise will boost the achievable revenues through automated price forecasting and unrivalled market insight.

    The Dynamic Demand 2.0 Traded co-optimisation leverages the full benefits of algorithmic trading, as assets will continuously re-optimise and take positions automatically, but also allows manual override of dispatch through Erova Energy’s 24hr trading desk, to take full advantage during extreme pricing events.

    Open Energi’s Dynamic Demand 2.0 is an advanced, machine-learning led, automated dispatch platform for flexibility assets. It uses market leading, patented control software to dynamically optimise assets across various price signals and grid services, while extending asset lifetime.

    Erova Energy has quickly become a leading short-term power trading expert in Europe, operating across the UK, Ireland, Germany, France and the Netherlands. It provides generators with a range of trading services, from traditional PPAs through to flexible route-to-market trading arrangements. For any independent generator or supplier, Erova’s virtual trading desk removes the risk, complexity and collateral required to directly access the market.

    Together, Open Energi and Erova Energy will target 300-500MW of assets in the first 18 months of the partnership.

    David Hill, Director, Open Energi, said: “We are excited to be working with Erova, who have a great reputation for innovation and trading capabilities. If you combine their expertise with Open Energi’s advanced asset optimisation capabilities, both parties are really playing to their strengths. Our energy market continues to evolve rapidly and storage and infrastructure developers are crying out for agile, innovative solutions to maximise the return on their investment.”

    Nick Williams, Director, Erova Energy, said: “We are delighted to be working with Open Energi, whose asset forecasting and optimisation capabilities, along with their track record in the market, are reflected in the quality of their platform. The Dynamic Demand 2.0 platform perfectly complements and integrates with our route-to-market capabilities and together we can offer optimal solutions in the challenging UK grid-scale storage and gas peaker flexibility markets.”

     

     -ENDS-

     

    About Open Energi:

    Open Energi’s technology automates and optimises a network of distributed energy resources to radically reduce energy costs and provide reliable, real-time flexibility to enable a 100% renewable energy system. The platform uses artificial intelligence to safely co-ordinate distributed energy resources at scale and trade flexibility across energy markets. Ultimately, this enhances our standard of living by helping to deliver as much energy as we want at a standard price and without harming the planet. See https://www.openenergi.com/

     

    About Erova Energy:

    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. A-rated Mitsui & Co invested in the company in March 2018. See http://erovaenergy.com/wp/

     

    Enquiries

    For all enquiries, please contact Nick Williams, Erova Energy, +4477 33 184654, nick.williams@erovaenergy.ie

    Press Release