The terms of the 15-year power purchase agreements (PPA) call for EDF to buy energy at an inflation-linked guaranteed minimum price.
The price floor enhances Primrose Solar’s ability to raise capital against the projects.
Gus Wood of Wragge Lawrence Graham & Co advised Primrose on the agreement.
EDF Energy director of business services John Cockin said: "We’re always keen to work with low-carbon generators. The risk that lenders attach to the volatile nature of wholesale power prices can limit a renewable developer’s ability to raise capital for expansion.
"By guaranteeing some of Primrose Solar’s income with a floor price, we’re able to remove a significant portion of that risk for them. It also demonstrates EDF Energy’s commitment to supporting the growth of independent renewable energy generators."
Primrose Solar has 10 solar farms in the UK representing 184MW of installed capacity, of which 156MW are operating with an additional 28MW under construction.
The company currently owns two of the largest solar farms in the UK that include a 41MW site at Canworthy Water in Cornwall and the 48MW Southwick Estate solar farm near Fareham in Hampshire.
Image: EDF will buy energy generated from 104MW of Primrose Solar facilities in the UK. Photo: Courtesy of EDF Energy.
