Universities secure £50mn green energy deal

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A consortium of UK universities – understood to include Anglia Ruskin University and the University of Cambridge – have secured a £50mn deal to buy renewable energy straight from windfarms.

On 7 October, The Energy Consortium announced that it, alongside Squeaky Clean Energy, had established an aggregated power purchase agreement (PPA) for 20 UK universities. It will see them receive clean power at a fixed price over the next 10 years from Statkraft. Statkraft will also issue certificates to match the output of the windfarms to meet the standards demanded by the universities.

TEC Managing Director, Richard Murphy, said: “The corporate PPA market has long been touted as a means for larger organisations to procure renewable power and enable subsidy-free development. But to date, it has largely been the preserve of very large companies, requiring substantial commitments from buyers. By acting together in a collaborative approach facilitated by the energy expertise here at TEC, these institutions, whether large or small, have been able to navigate a previously inaccessible market.”

TEC