The Shell-owned company is set to trade the power generated at the 46MW Crossdykes project through National Grid's Balancing Mechanism
Shell-owned energy tech company Limejump has secured a contract to trade the electricity produced by Scotland's first subsidy-free wind farm, it announced yesterday.
A joint development between Muirhall Energy and WWS Development LLP, the 46MW onshore wind farm at Crossdykes in Dumfries and Galloway is the largest wind power project to enter Limejump's generation portfolio, the company said. The project is currently under development, consisting of 10 turbines which are expected to provide enough power to supply almost 45,000 homes.
The wind arm is set to enter National Grid's Balancing Mechanism scheme to help ensure supply meets demand, and Limejump plans to use its price management technology to "track and trade" power purchase agreement (PPA) and market pricing information in order to lock in the trading price at the optimimum time. It also plans to enter the Crossdykes wind farm into the capacity market to provide back up power at times of periods of peak demand.
Limejump, which was snapped up by oil giant Shell last year, said its trading methodology "rewards sophisticated trading and flexibility with higher returns while managing the price fluctuation risk".
In 2018, Limejump was the company to enter battery storage units into the Balancing Mechanism via its tech platform, opening up a new revenue stream for battery operators and distribution connected generators.
Kristina Rabecaite, the company's senior business development manager, said bringing subsidy-free wind power into the Balancing Mechanism was another "red-letter day for the industry".
"Our collaboration with Muirhall Energy and WWS is part of the new era of maturity in onshore wind and the power trading landscape," she said. "Together, we will play a strong role in the journey towards zero net carbon by 2050."
An all-you-need-to-know guide to all the top green corporate announcements from a busy Climate Week in NYC
Plus EU's plan to cut aviation CO2, Norway's CCS project, Australia's green tech investment blitz and the top green business news from around the world this week
PM touts 'green industrial revolution' as fix for climate and Covid crises as he urges countries to step up climate efforts
PwC, KPMG, EY and Deloitte all back environmental social governance reporting framework headed up by the International Business School