Neas Energy signs 21MW PPA

Energy asset management company Neas Energy has signed a 15-year power purchase agreement (PPA) for three solar parks operated by Ingenious Clean Energy, totalling 21MW in installed capacity, along the southern coast of England.

The 7.49MW Stonebarrow farm in Hawkchurch, Devon, the 7.04MW Westover farm in Andover, Hampshire, and the 6.48MW Redbridge farm in Dorchester, Dorset, were developed by British Solar Renewables.

With power from them, Neas Energy now is managing 200MW in PPAs from both wind and solar in the country.

“Banks and other financial institutions supplying project financing for renewable energy projects are a critical stakeholder in settling the financial terms of PPAs” says Neas Energy managing director Soren Petersen.

UK-based investment group Ingenious- best known for its investments in Hollywood movies, listed Ingenious Clean Energy Income on the London Stock Exchange earlier this year.