Energy tech company, Limejump, has been awarded the contract to trade the power output of the first subsidy-free Scottish wind farm using next-generation wind turbines at Crossdykes Wind Farm in Dumfries & Galloway, Scotland. The 46MW onshore wind farm, developed and owned by Muirhall Energy Limited and WWS Development LLP, is one of the first subsidy-free wind farms in the UK. Notably, Crossdykes is the first subsidy-free wind farm to enter the Grid Balancing Mechanism, and is the largest wind site to enter Limejump’s generation portfolio. Limejump was the first utility off-taker (in August 2018) to enter battery storage units into the Grid’s Balancing Mechanism via its tech platform – giving battery operators and distribution connected generators a new revenue opportunity. With Crossdykes, Limejump has used intelligent price management to offset risk via a “track & trade” Power Purchase Agreement (PPA).
It has used market pricing information to ‘track’ the market and lock the price in at the optimum time. This methodology rewards sophisticated trading and flexibility with higher returns whilst managing the price fluctuation risk. Limejump will also enter Crossdykes into the Capacity Market. The commercial agreement with Crossdykes was led by Kristina Rabecaite, Senior Business Development Manager at Limejump. At the close of the deal, Kristina commented: “Bringing subsidy-free wind into the Balancing Mechanism is a 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. Together, we will play a strong role in the journey towards zero net carbon by 2050.”
Catherine Newman, Limejump’s Chief Executive Officer, said: “The decision by Muirhall Energy and WWS to work with Limejump underlines the depth of market knowledge and trading experience that we have at Limejump. And with us also being a part of the Shell Group, our trading team provides our current and future customers a level of assurance that few of our competitors can provide.” Catherine Newman added: “The Crossdykes contract reinforces our company’s commitment towards a more sustainable energy future and to maximise revenues for all asset owners. We are also determined to fully utilise data science and technology to accelerate the growth of renewables and flexibility in the increasingly decentralised market.” Muirhall Energy is a leading independent developer of renewable energy projects, based in South Lanarkshire. Muirhall Energy has constructed over 120MW of onshore wind projects across the UK, and has more than 1GW in its development pipeline with 300MW due to be constructed in the next two years. Chris Walker, the founder and Managing Director of Muirhall Energy commented: “Muirhall Energy and WWS are delighted to have developed the first subsidy-free onshore wind farm using next-generation wind turbines in Scotland. For the Muirhall team to conclude the transaction with Limejump was an important milestone in the Crossdykes journey.” “We were drawn to Limejump by their technical expertise, trading experience and track-record in renewables.