European Energy Wins UK Contracts for 116 MW of Solar Projects
In a significant boost to the UK’s renewable energy landscape, European Energy has successfully secured Contracts for Difference (CfDs) for three new solar farms. The projects, totaling a combined capacity of 116 MWp, mark a substantial addition to the company’s growing presence in the United Kingdom.
The three solar farms—Church Farm in Nottinghamshire, Manor Farm in Oxfordshire, and Old Hall Farm in Leicestershire—were awarded the contracts in the UK’s recent Allocation Round 7a (AR7a), a landmark auction for the nation’s green energy sector.
Details of the Contract Win for UK solar projects
The contracts provide a crucial element of financial stability for the projects, guaranteeing a strike price of £65.23/MWh (at 2024 prices). This price is index-linked and secured for a 20-year period, offering the long-term revenue certainty needed to advance these large-scale solar developments.
This achievement underscores European Energy’s competitive edge and robust project development capabilities. Thorvald Spanggaard, EVP and Head of Project Development at European Energy, commented on the success, highlighting it as clear evidence of the company’s strong development and M&A skills. He reaffirmed the UK’s position as a strategic market for the company’s continued growth.
A Record-Breaking Auction for UK solar projects
The success of European Energy’s bid was part of a historic allocation round. The AR7a auction awarded a record-breaking 4.9 GW of capacity to solar PV projects, the highest volume since the CfD scheme began.
Overall, the auction allocated contracts for 14.7 GW of total renewable capacity, a significant step towards the UK’s decarbonisation goals. This newly contracted capacity is estimated to be sufficient to power approximately 16 million homes, contributing meaningfully to the nation’s energy security and climate targets.
European Energy’s Commitment to the UK solar projects Market
This latest win further cements European Energy’s position as a key player in the UK renewables market. The company has been active across England, Scotland, and Wales for over a decade, developing both wind and solar projects.
Beyond these three newly contracted sites, European Energy is currently constructing four other solar farms that are backed by corporate Power Purchase Agreements (PPAs). The company’s development pipeline is robust, with 300 MW of solar and battery storage projects in structuring and an additional 736 MW under active development.
This victory aligns with the UK’s broader ambitions outlined in its Clean Power 2030 action plan, which calls for a tripling of solar capacity. While the industry continues to navigate challenges such as grid connection delays, successes like European Energy’s in the AR7a auction demonstrate powerful momentum in the transition to a cleaner energy future.