Energy technology company Limejump has signed a new flexible Power Purchase Agreement with Alphagen Renewables, in which Limejump will manage six of Alphagen Renewables’ operations in the UK, including the Docking Biogas plant in Norfolk.
Alphagen Renewables develops and operates small to medium scale landfill gas to energy projects and operates the Docking Biogas microgeneration plant with its partner Albion Community Power under a 20-year contract with Norfolk County Council.
Limejump’s PPA deal will provide Alphagen with wholesale energy market trading access, valued at £180,000 per year. It further strengthens Limejump’s renewable dominated Virtual Power Platform (VPP), which will be used to manage the Docking plant, allowing Limejump and its customers, like Alphagen, to compete against traditional fossil-fuel power plants, ensuring that distributed sources of renewable energy are a mainstay of the UK electricity system. It is this type of operation that recently enabled the UK to achieve its first coal-free week since before the Industrial Revolution.
Limejump’s machine learning Artificial Intelligence (AI) allows advanced forecasting to enable automatic trading of Alphagen’s six generation sites at the optimised time to provide the best return on its investment.
The type of PPA signed is a Limejump flexible Track ‘n’ Trade agreement which allows Alphagen to utilise market pricing information to ‘track’ the market and lock their price in at their optimum time. This methodology, developed by Limejump, can reward sophisticated trading and flexibility with higher returns whilst managing increasing price fluctuation risk.
“Limejump’s experience in the wholesale market and the machine learning backed trading strategies that Limejump utilise are hugely beneficial for our size and type of business, helping us to maximise our return on our investment” said Richard Tipping, Managing Director of Alphagen Renewables.
Limejump’s Vice President of Sales, Joe McDonald, added that the latest PPA agreement, following the company’s recent contracts with DHG Hydro and National Trust Wales, highlights Limejump’s ability and flexibility to work with generation types and sizes across the full energy spectrum.
“Limejump’s expertise in technology, energy management and energy trading are placing us at the heart of the UK’s energy transition to the greater decentralisation of the country’s energy system” Mr McDonald said. “Our Virtual Power Platform, alongside our flexible PPA offering, is helping Alphagen and a host of other smaller energy companies to compete and grow in this rapidly evolving market. This technology platform is proving that renewable energy sources can power the UK, not in 10 or 5 years, but now.”