Having successfully achieved a government-backed Contract for Difference (CfD) in Allocation Round 5 in September last year, Boralex has now secured a Power Purchase Agreement (PPA) with Statkraft, one of the leading PPA providers in the UK, for a 3-year contract covering the period between commissioning of the wind farm, expected by the end of 2024, and the start of the CfD in April 2028.
Youcef Khelif, Energy Markets Director of Boralex said: “We are delighted to have achieved this PPA for Limekiln, adding more certainty to the project through the provision of a secure revenue stream during the first years of operation, before the CfD comes into force. Statkraft have been great partners and we have appreciated our positive collaboration throughout the process. Limekiln is going from strength to strength and we eagerly anticipate its coming on stream later in the year.”
Michelle Lam, Statkraft’s PPA Business Development Manager, said: “With our extensive market experience, Statkraft are well-placed to provide innovative solutions to maximise the gains from our customers’ renewable assets. I’m pleased we’ve been able to work with Boralex to agree a route-to-market for the power generated at Limekiln Wind Farm, and I hope we can build on this relationship in the future.”
The news follows Boralex’s announcement last month of financial close for the project, comprising a 19-year term loan from National Westminster Bank PLC (NatWest) and Export Development Canada (EDC). Construction is progressing as planned with turbine components being transported to the wind farm site over the summer.