European Energy secures contracts for three UK solar projects in AR7a auction

The CFDs were awarded to European Energy’s Church Farm, Manor Farm, and Old Hall Farm solar photovoltaic (PV) projects located in Nottinghamshire, Oxfordshire, and Leicestershire, respectively. CFDs were secured at a strike price of £65.23/MWh (2024 prices), which is index-linked for 20 years.

In total, 4.9 GW of solar PV capacity secured contracts under this allocation round, representing the highest number of individual projects and largest capacity awarded to solar PV projects in the UK since the CfD scheme began.

The CfD awards provide long-term revenue certainty for the three projects and strengthen European Energy’s commitment to developing and constructing renewable energy assets in the UK market.

European Energy has been active in the UK for more than a decade, developing, constructing, and operating wind and solar assets across England, Scotland, and Wales.

The company continues to invest in its pipeline of wind, solar, and Power-to-X projects and currently has four separate solar farms in the UK under construction, all supported by corporate PPAs. European Energy furthermore has 300 MW solar and battery capacity in the structuring phase, with an additional 736 MW under development.

Adam Spearey, UK Development Director at European Energy, commented: “Today’s auction success marks an important milestone for our projects and UK team. The revenue certainty provided by CFDs will help us accelerate the delivery of these new, low-cost renewable energy generation assets and all their associated long term economic and social benefits.”

Thorvald Spanggaard, EVP and Head of Project Development in European Energy, added: “The UK remains a key market for European Energy. Securing contracts for three projects in a highly competitive auction underlines the strength of our development and mergers and acquisition activities in the country. We will continue to develop, build, partner, and divest projects as part of our long-term approach to the UK market.”

According to the UK Department for Energy Security and Net Zero, the AR7 auction delivered record levels of new solar and onshore wind, with a total of 14.7 GW of clean power secured across technologies.

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