DNV GL has announced that it has partnered with Co-op Energy to provide advanced forecasting of renewable energy assets to more than 50 community energy projects across the UK. The partnership allows Co-op Energy to take advantage of DNV GL’s deep knowledge and expertise for gigawatt-scale renewable energy projects, to provide accurate forecasting services for its fast-growing portfolio of Power Purchase Agreements.
By enabling knowledge transfer from large scale global renewables ventures to community projects, DNV GL can ensure that Co-op Energy’s projects benefit from accurate forecasting to enable the company to provide the most efficient service to its customers, take on more sites and offer fairer prices.
DNV GL’s Energy Transition Outlook report forecasts that the world will experience a surge in global electricity production, with renewable sources powering an estimated 80% of global electricity production in 2050.
As electricity demand increases, the ongoing growth of decentralized renewable energy generation, such as community projects, will be vital and matching supply and demand through accurate forecasting will become critical.
Community energy projects have an emphasis on local engagement and focus on collective action to reduce, purchase, manage and generate energy through community-owned renewable electricity installations such as solar photovoltaic panels, wind turbines or hydroelectric generation.
“We’re pleased to be working with DNV GL, which is able deliver industry-leading services and expertise to provide accurate forecasts for our renewables portfolio,” said Mark Billsborough, Head of Hedging and Renewables, Co-op Energy. “Investing in these services is part of our ongoing commitment to the community energy sector and helps us to maintain our position as the UK’s leading supporter of community-owned low-carbon energy”.
Co-op Energy is the leading supporter of community energy in the UK, supplying over 400,000 customers. From inception, its primary aim has been to facilitate the expansion of community energy generation via Power Purchase Agreements to enable fair market access for community energy. In 2016, Co-op Energy reinforced this with a fresh commitment in its energy strategy to avoid the use of coal and to source three-quarters of its electricity from renewables. These targets have been exceeded and from 2018, all Co-op Energy’s customers have been supplied with electricity sourced from 100% renewable sources.
“DNV GL has been providing short-term power forecasting services for over two decades to gigawatt scale renewables around the globe,” said Prajeev Rasiah, Executive Vice President for DNV GL’s Energy business in Northern Europe, Middle East & Africa. “Working with Co-op Energy to help them benefit from the forecasting intelligence provided by huge projects in an affordable way is very exciting indeed. Not only does it help Co-op Energy achieve its aim of fair market access for community-owned energy projects it also brings us one step closer to transitioning to a cleaner future. We look forward to continuing our strong relationship with Co-op Energy to help drive this change.”