Low Carbon and Danske Commodities sign balancing agreement for UK solar farm

Renewable energy company Low Carbon announced that it has signed a balancing agreement with Energy trading company Danske Commodities with for Feldon Vale Solar Farm in the UK.

Under the agreement, Danske Commodities will provide market access and balancing for Feldon Vale Solar Farm, which is being developed by Low Carbon, a leading Independent Power Producer (IPP) in the UK and Europe.

With an installed capacity of 49.9 MW, it is estimated that Feldon Vale Solar Farm will power the equivalent of more than 16,500 British households with clean energy. The power from the project will be supplied directly into the local distribution network (LDN) via underground cables.

Marco Verspuij, Head of Power Management at Low Carbon commented: “We are delighted to finalise our first balancing agreement with Danske Commodities for Feldon Vale Solar Farm. Forming strategic partnerships is critical as Low Carbon continues its growth as an IPP and this arrangement reflects our ambition to accelerate the energy transition by leveraging the latest technology to optimise our renewables portfolio to its full potential.”

Sofie Duedahl, Head of European Origination at Danske Commodities said: “We are proud to announce our balancing agreement with Feldon Vale Solar Farm. Danske Commodities has a proven track record in balancing assets with intermittent energy generation, benefitting from our market-leading capabilities within algorithmic trading and weather analysis.”

Solar farms like Feldon Vale and other renewable energy sources are key to succeeding with the energy transition. Clean power generation is front-and-centre of the UK’s strategy to reach net zero by 2050, with the UK government setting a target of achieving at least 95% of electricity to come from clean energy generation by 2030.

Danske Commodities has a strategic ambition to support the ongoing energy transition in the UK, where the Danish trader has been active since 2009. With the addition of the Feldon Vale Solar Farm, Danske Commodities is growing its British power portfolio, which covers onshore wind, offshore wind, solar, batteries and energy-from-waste.

“We want to be a preferred partner for British asset owners through energy market services covering both renewable and flexible energy generation. Building on 20 years of trading experience, we aim to create value for our customers through balancing and asset optimisation,” said Duedahl.

Danske Commodities currently manages a power portfolio of more than 14 GW across Europe in close collaboration with its customers consisting of energy producers and industrial consumers.

ENDS

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Harry Padfield

Head of PR and Public Affairs

Harry.padfield@lowcarbon.com