Statkraft signs PPA extension with Sleaford Renewable Energy Plant until 2034

Statkraft has extended a Power Purchase Agreement (PPA) to continue the offtake of power from Greencoat Capital’s 34MW Sleaford Biomass plant in UK. 

Statkraft previously entered into a long-term PPA for Sleaford Renewable Energy Plant with the project’s original owners in 2011. The project became operational in 2014. The original PPA which was set to expire in 2027 has now been extended to 2034 as required by Greencoat and their funders.

The project, located in Lincolnshire, is one of the few biomass projects in the UK that is predominantly straw fuelled.

As part of the project’s financing requirements and Greencoat’s acquisition, Statkraft were pleased to provide an offer to extend the PPA and to continue purchasing all electrical output and other benefits including Renewable Energy Certificate (ROCs) until 2034. As part of this process, Statkraft also agreed to extend floor prices until the end of 2032.