The City of London Corporation has put out a notice of procurement for up to 55GWh of renewable energy per year. It is seeking this through an offsite Power Purchase Agreement (PPA) with renewable energy project owners and operators. It will agree a fixed price for the duration of the contract with the owners that will be indexed annually using the Consumer Price Index, taking into account the benefits of the renewables. The projects are expected to have a value of £30,375,000 excluding VAT. The City of London is looking for a project, or portfolio of projects, in Great Britain that is not fully operational before the PPA is signed. The PPAs will have a term of 15 years, with an estimated annual contract value of £2,025,000.
Solar Power Portal 9th Jan 2020 read more »