ElectroRoute Secures Long-Term Deals with Innova to Power UK Grid with 61MW of New Solar Projects

Image: Innova's Carn Nicholas solar farm - Credit: Innova

Energy trading firm ElectroRoute has signed three power purchase agreements for solar energy with Innova Renewables. These new deals cover three separate solar projects across the UK, with a combined capacity of 61 megawatts.

The projects are held through a joint venture between Innova and Schroders Greencoat. Each of them has secured government-backed Contracts for Difference, which help guarantee pricing stability for renewable electricity. The power purchase agreements have been structured to work in harmony with these contracts and will run for a full fifteen years.

ElectroRoute plans to use its round-the-clock market access and trading expertise to maximise the output from the solar sites. By doing so, the company aims to help integrate more clean energy into the national grid efficiently and reliably.

Commenting on the announcement, Brian Kennedy, chief commercial officer at ElectroRoute, said: “ElectroRoute is proud to partner with and support Innova on these solar projects.

“This partnership reflects the trust placed in ElectroRoute’s expertise in energy trading and risk management and further underscores our commitment to supporting the renewable sector with innovative and dependable trading solutions.”

Andy Peyman, head of energy sales at Innova Renewables, added: “We are delighted to be working with ElectroRoute and have found their approach particularly flexible in meeting the financing needs of these projects.

“The fact that we were able to finalise these contracts in a relatively short period is a testament to the collaborative approach taken by both companies.”

Together, the three solar projects will produce a combined total of more than 65,000 MWh of renewable electricity.