Statkraft has signed a ten-year Power Purchase Agreement (PPA) with FP Lux Group, advised by re:cap global investors ag, for the Scurf Dyke solar farm in the East Riding of Yorkshire. With an installed capacity of 80.6 MW, this project is one of the largest in the UK. At the same time, an 8 MW storage system will be optimized by Statkraft, marking a significant step forward in renewable energy management and energy storage.
BayWa r.e.’s role in Development
BayWa r.e. led the development and construction of the Scurf Dyke solar farm. The company continues to manage the site’s operations and maintenance, ensuring optimal use. Statkraft and BayWa r.e. have already collaborated on several similar projects, creating an effective synergy for the realization of complex projects.
Optimization and Risk Management
Statkraft will use its Virtual Power Plant (VPP) system to manage the risks associated with negative prices and optimize the solar farm’s production. This system regulates electricity production in line with market conditions, ensuring optimum project profitability.
Market outlook
This partnership with re:cap is part of Statkraft’s wider strategy to strengthen its presence in the UK renewable energy market. Statkraft’s experience in managing PPAs and optimizing renewable assets is a major asset for the success of this project. The involvement of re:cap, with its expertise in international investments, underlines the importance of this project for investors and stakeholders, ensuring rigorous management and optimum performance.
