Limejump has added more than 200 renewable generators to its Virtual Power Plant (VPP) through Power Purchase Agreements (PPAs) in 2021.
These have overwhelmingly been solar and wind sites, adding 170MW to Limejump’s VPP and increasing its number of renewable energy sites by 40%.
This brings the company’s – part of Shell’s Renewables & Energy Solutions division – total renewable capacity to over 1GW, made up of a combination of wind, solar, hydro, anaerobic digesters and batteries.
Catherine Newman, Limejump’s chief executive, said the company had seen a “terrific response from the market” over recent weeks in “a time when the power market has been so volatile”.
“Customers are choosing Limejump because our intelligent forecasting and data-driven platform successfully maximises revenues from their generation assets.”
The start of 2021 has seen record high power prices in both the day ahead and imbalance markets, given the low temperatures and low wind generation. For example, the imbalance price spiked to £4,000/MWh on Friday 8 January, while the day-ahead price hit £1,500/MWh in the N2EX market.
“Forward markets were extremely volatile, with monthly baseload forward contracts moving by more than £5/MWh some days, due to very tight market conditions,” added Genna Boyle, Limejump’s head of business development.
“Our tech-led approach and trading expertise enabled us to quickly capture these market opportunities for many of our new and existing customers.”
Limejump began trading its first wind farm in the Balancing Mechanism back in September 2020, with the 46MW Crossdykes onshore wind farm.