Our Energy team advised Statkraft on the fixed-price PPA with Boralex for Limekiln Wind Farm, a 106MW transmission-connected onshore wind farm situated in the Scottish Highlands.

The project, which is currently under construction, is expected to be commissioned by the end of 2024. Limekiln Wind Farm will generate enough clean energy to power the equivalent of around 100,000 homes.

Statkraft has offered fixed prices for a proportion of Limekiln Wind Farm's power and Renewable Energy Guarantees of Origin (REGOs) in advance of construction being completed.

Statkraft has also offered its conditional bidding service, enabling Limekiln to self-curtail during periods of negative pricing which is in both parties' interest. This helps to avoid unnecessary costs whilst also relieving pressure on the grid. Statkraft can manage this risk for generators via its well-established Virtual Power Plant (VPP) system. Statkraft's VPP has been used effectively for a number of years to manage its renewables PPA portfolio in Germany and elsewhere in Europe, and to optimise its flexible generation portfolio in the UK.

With more than a decade of experience structuring route-to-market PPAs, Statkraft has been able to share its market experience and expertise with Boralex and offer an attractive PPA framework. Statkraft has offered fixed prices for a proportion of the project's power and REGOs in advance of construction being completed.

Gowling WLG has advised Statkraft on UK PPAs for more than a decade. The legal team advising Statkraft was led by Gus Wood (Partner), supported by George Nixon (Associate).