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Erova Energy expanded its trading relationship to Greencoat by signing a long-term power purchase agreement (PPA), for the Braes Of Doune wind farm. The onshore wind farm, which has 36 turbines and a total power output of 72MW, has been in operation since June 2007.
Greencoat has 100% ownership of the wind farm after acquiring 50% in March 2013, and the remaining 50% in Feb 2021. Greencoat will be managing the site independently, while Erova will handle the market access, forecasting and balance of the wind farm. The Balancing Mechanism also includes the Braes of Doune, with Erova as the Lead Party.
Erova quickly rose to prominence as a European short-term power trading specialist. It operates in the UK, Ireland, Germany, Netherlands, and France. It offers a variety of trading services to generators, including traditional PPAs and flexible route-to-market trading arrangements. With the addition of the Braes Of Doune, Erova now has a portfolio of over 1GW of generation assets. Additional additions such as Battery Storage projects are anticipated before the end.
Nick Williams, Director, Origination, Erova Energy said that we are thrilled to expand our relationship with Greencoat. We use our bespoke PPA structure to allow the wind farm to maximize its overall trade value. The Braes at Doune, which is a fantastic wind farm and was one of my first assets back when I was an analyst, is great to be back working with.