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”
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 https://erovaenergy.com
For all enquiries, please contact Nick Williams, Origination. +4477 33 184654 firstname.lastname@example.org