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Statkraft signs purchase agreement with Eco2

Statkraft, a power purchase agreement provider, has signed a long-term power purchase agreement with Eco2.

The agreement includes the purchase of power from Eco2's Brigg renewable energy plant, a 40MW biomass-fired power station in Lincolnshire, UK.

Once operational, the biomass plant will generate 40MW of renewable energy – enough to benefit 70,000 households – from straw feedstock sourced from within a 50 mile radius.

The new agreement, for 12 years, will provide a secure revenue stream for the £90 million (€108 million) project.

Darren Williams, commercial director at Eco2, says the agreement with Statkraft will 'support the delivery of this project that represents the most substantial investment in the UK biomass sector since Eco2's Sleaford Renewable Energy Plant'.

In the future Statkraft says it could build on its offering to current and future biomass power purchase agreement customers by extending its offering to include value-added services associated with fuel risk mitigation and logistical improvements.