UK independent power producer (IPP) Elgin Energy has signed a 15-year power purchase agreement (PPA) for a 112.6MW solar PV portfolio with renewable asset optimization company Erova Energy Group.
The agreement between Elgin and Erova includes three British solar energy projects where construction began earlier this year: the 61.9 MW Thorpe plant in Staffordshire, the 26.2 MW Aston Flamville Park in Leicestershire and the 24.5 WM Maes Mawr project in Glamorgan.
Engineering, procurement and construction (EPC), in addition to operations and maintenance (O&M) services, on all three projects are being delivered by Metlen, the company that acted as EPC contractor for the 373 MW Cleve Hill Solar Park, the largest in the country.
Under the terms of the deal, Erova will provide route-to-market, trading and balancing services for the portfolio. The company said that since its acquisition by the Macquarie Group in July 2025, it has sought to sign “larger tenders” and “longer-term contracts”, and this deal is certainly of a larger scale than those signed before the Macquarie acquisition; in February 2025, the company signed a PPA for a 2.6 MW wind farm in Ireland.
“These agreements underline Erova’s ability to support larger sustainable projects in the UK through flexible, long-term PPA and risk management solutions,” said Nick Williams, CEO of Erova. “As solar energy generation continues to evolve, effective market optimization becomes increasingly important.”
Industry experts spoke about the importance of hedging strategies to manage financial risk in Britain’s current economic climate at this year’s Renewables Procurement & Revenue Summit, hosted by Solar energy portal publisher Solar Media. During the event, Claire Thornhill of Frontier Economics said Britain is struggling under the weight of “really high” energy pricesThis has led to buyers developing strategies to minimize financial risk while maintaining investment in the sector.
All three Elgin projects have been awarded Contracts for Difference (CfDs) in Award Round 6 (AR6) of the UK Government procurement process. This round, completed in September 2024, saw a then-record 3.3 GW of new solar PV capacity allocateda figure surpassed by the more recent AR7, and that has led to optimism around the eighth round of the government’s programme.
