3 October 2013

Gazprom Energy signs long term hydropower offtake deal with Infinis

Business energy supplier Gazprom Energy has signed a seven-year deal with Infinis, the UK’s leading independent renewables generator, to purchase hydroelectric power and associated renewable certificates from ten sites across the UK.

The deal, which becomes effective from October 2013, will see Gazprom Energy, the Manchester-headquartered European energy supplier purchase up to 17MW of renewable power per year from Infinis, enough to power thousands of the UK’s small and micro businesses.

The deal includes trading power generated at ten Infinis hydro sites across England and Wales including at Barton Lock in Greater Manchester, Beeston Weir in Nottingham, the Elan Valley in South Wales and Duror in the Scottish Highlands, The transaction also includes the ability for Infinis to trade the Renewables Obligation Certificates (ROCs) and Levy Exemption Certificates (LECs) associated with the power purchased.

This offtake agreement follows Gazprom Energy’s commitment to purchase power (and associated certificates) generated from 37 of Infinis’ landfill gas sites in 2011.

Andrew Morris, Manager of Clean Energy at Gazprom Energy, said: “This agreement strengthens our relationship with one of the UK’s leading renewable energy generators, providing Infinis with a flexible route to market and making a significant renewable power contribution to the UK energy market.”

Steven Hardman, Commercial Director at Infinis, said: “Gazprom Energy has structured an innovative contract that helps us to maximize the value of our hydro power generation.”

Infinis’ hydroelectric sites harness the flow of both natural and man-made bodies of water through water turbines to produce electricity that is free of greenhouse gas emissions.

Gazprom Energy’s embedded generation team works closely with independent energy producers, helping them trade the power they produce from wide range of sources including hydro and biomass, LFG, wind, anaerobic digestion, solar and energy from waste.
Infinis is the third largest generator of renewable power in the UK, having produced approximately seven per cent of the UK’s renewable power in the year to 31 March 2013.

The company has an installed renewable energy generating capacity of 621 MW, comprising landfill gas, onshore wind and hydro generation. Infinis is currently the largest generator of electricity from landfill gas in the UK, with a market share of approximately 40%.

Related sections:
Great Britain, Electricity

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