SmartestEnergy signs Contracts for Difference power purchase agreements with AGR Renewables for four UK solar projects

SmartestEnergy signed a series of Contracts for Difference (CfD) power purchase agreements with AGR Renewables, backed by Railpen, covering four co-located solar projects in the UK. The agreements provide a route to market for 192 MW of solar capacity across the Eaton Socon, Little Hale, Priory Generation, and Wymondley projects in Cambridgeshire, Lincolnshire, and Hertfordshire. The projects were awarded contracts under the UK Government’s CfD Allocation Round 7 and are expected to generate around 209,000 MWh of electricity annually. John Collier, Investment Director at AGR Renewables, highlighted the need for a reliable and flexible route to market PPA partner with strong pricing and deep market expertise to navigate the complexities of bringing large transmission-connected solar sites online. Will Russell, Business Development Manager at SmartestEnergy, emphasized the company's commitment to providing competitive, bankable, and reliable routes to market for customers like AGR Renewables. Lewis Vanstone, Head of Infrastructure at Railpen, underscored the investment firm's dedication to backing high-quality companies and projects that strengthen the UK’s energy security.

Counterparts (3)

Developer

AGR Renewables

company · 1 deals

AGR Renewables is a renewable energy developer focused on developing and operating renewable energy projects. They invest in a variety of renewable energy technologies and geographies.

Offtaker

SmartestEnergy

company · 1 deals

UK-headquartered SmartestEnergy, acquired by Marubeni in 2019, is an energy supplier and renewable energy aggregator operating across the UK, US, and Australia. The company procures power from over 5.5 GW of independent generation, primarily renewables, supplying electricity and gas to businesses.

Investor

Railpen

company · 1 deals

UK-based pension fund manager overseeing £34bn in assets for over 350,000 rail workers' pensions, with a long-term investment approach spanning private markets, public markets, and real assets.