WEBINAR DETAILS AND AGENDA
Date/Time : Friday 17 January 2025 @ 10:00am–11:00am
Theme : Discover the Future of Energy Procurement - Virtual Power Purchase Agreements (VPPA)
Key Topics:
Fundamentals - What is a VPPA? How do VPPAs work?
Clusters - How can industrial clusters leverage VPPAs?
Geographic Constraints - Overcoming challenges in contracting with distant generators.
Benefits and Risks - Financial, sustainability, security, and risk management strategies.
Balance Sheet Treatments - Understanding capital vs. revenue projects and financial instruments.
Power Market Transformation - Navigating the evolving UK electricity market landscape.
TO REGISTER FOR THE WEBINAR PLEASE EMAIL [email protected] by Wednesday 15 January 2025.
As part of IDNI’s potential cluster solutions the concept of collective VIRTUAL POWER PURCHASE AGREEMENTS (VPPA) has been identified. A VPPA is a financial contract between a renewable energy generator and a corporate buyer, importantly without physical delivery of electricity. In this arrangement the corporate buyer continues to purchase electricity from a licensed supplier, with a remote renewable generator selling its generated power to the grid and receiving the market value for that commodity.
The remote renewable generator transfers the Renewable Energy Guarantees of Origin (REGO’s) to the Corporate Buyer for a specified and contracted quantity of power and agree a monetary contract reflecting the difference in market commodity price and their agreed strike price
No renewable electricity needs to be supplied directly from the renewable generator to the corporate buyer – the arrangement is purely a financial hedging arrangement.
The main advantages of VPPA’s are:
REGISTRATION If you, or another company representative would like to hear more about this concept - whether it would be of benefit to your IDNI industrial cluster, to your manufacturing, business sites, or to your Stakeholder Organisation please feel free to register for the Webinar by e-mailing David Reade : [email protected] .
David will issue the Google Meet Webinar invitation.
The Industrial Decarbonisation for Northern Ireland (IDNI) project has been developed to demystify and assist businesses manage these increasing competitive pressures.Led by Invest NI, the project is a consortium of stakeholders including Manufacturing NI, Mineral Products Association, Ulster University, Queens and all 11 councils. The 11 Council Areas in Northern Ireland want to ensure that our distinctive region is at the forefront of industrial decarbonisation activities.
The Industrial Decarbonisation for Northern Ireland (ID-NI) project will identify 4 industrial clusters from across NI, that are most suitable for a research and modelling project. It is anticipated these initial 4 clusters will lead to a plan that could be further rolled-out across NI if successful.
11 Workshops have been organised to provide the opportunity for industry to learn more about how this Innovate UK funded industrial decarbonisation initiative can help. Each Workshop will give you more information on the partners, ambitions, activity and possible outcomes, thereby giving cluster participants the opportunity of a collective change to more predictable lower carbon energy solutions.
A list of the dates and venues for the 11 Council Industrial Decarbonisation Cluster Workshops is below.
If you wish to register for a Workshop in your area , please send an e-mail at: [email protected]
The Green Gas Team in the Department for the Economy (DfE) are running Biomethane Stakeholder Engagement Workshops in June/July 2024.
Friday 17th May 2024 saw the launch of DfE’s Call for Evidence on “Developing Biomethane Production in Northern Ireland”.
Biomethane, a carbon neutral renewable gas which can be produced locally, could contribute to both decarbonising and growing the Northern Ireland economy.
Research has indicated that, due to our large agricultural sector, we have significant biomethane potential. The Department’s challenge is to develop an effective policy framework which could unlock the biomethane economy and help the sector to become economically viable without long-term subsidies. Our Call for Evidence, which is open for comments up to 9th August 2024, is seeking information and views on a range of issues, including:
As part of the Call for Evidence, the Department is to hold two one-day Stakeholder Engagement Workshops:
