Generation portfolio: Perpetual Power UK (owned by Toucan Energy)
Technology: Solar PV
Capacity: 300 MW
Location: UK wide
Customer since: 2016
“Toucan Energy, through the Perpetual Power UK portfolio, have been working with SmartestEnergy since 2016. Over the past 4 years our Flexible PPA agreement has enabled the portfolio to take advantage of wholesale market opportunities across 32 of our solar farms. SmartestEnergy have played an instrumental role, both commercially and strategically, to help us put our mission into action, connecting our solar farms to local authorities and businesses with a requirement for certified 100% renewable power. We look forward to collaborating with Matt Neve and the wider team at SmartestEnergy as we continue our efforts in supporting local authorities and businesses to access renewable electricity”
Dan Skilton, Financial Controller
Toucan Energy currently owns over 500MW of renewable assets, with 300MW of PV capacity, spanning 32 sites, on a Flexible PPA contract with SmartestEnergy. This 21-year contract is one of the longest and most flexible PPA deals in the UK solar sector. Through this agreement the generator can quickly respond to wholesale market movements and maximise trading opportunities to get the best value for their exported power. With direct access to the live power markets through SmartestEnergy’s in-house trading team, they have the ability to hedge power down to half hourly granularity. This Flexible agreement also provides a significant degree of transparency over the financial performance of the portfolio.
With the strong belief in the generation and supply of cost effective renewable energy, Toucan Energy also looked to SmartestEnergy to connect them with local businesses that have a specific requirement for REGO-backed solar energy.
From October 2021, Toucan Energy will start supplying certified renewable power to 33 Cambridge Colleges via a three-year supply agreement with SmartestEnergy. The two solar farms, Stowbridge and Abbey Farm are located within a 30-mile radius of the colleges. Together they generate a total capacity of 35MW and will make up over 80% of Cambridge Colleges annual energy supply.
Now, in a subsidy free world, renewable energy projects are looking at alternative ways to be economic. Toucan Energy are focusing on maximising revenues in the wholesale market and exploring more opportunities to partner with local businesses for their existing Solar PV plants. They also remain an active investor in new renewable projects.