London’s Square Mile could soon be powered with solar energy harvested in the Dorset countryside, thanks to a new £40m power purchase deal announced by the City of London Corporation yesterday. The purchase power agreement (PPA) – the first in the UK between a renewables developer and a local authority – commits the City of London to buying all the electricity produced by a new-build 95,000-panel solar farm in the county for the next 15 years, in a move it estimates could £3m a year in energy costs.
Business Green 19th Nov 2020 read more »
On the day U.K. prime minister Boris Johnson announced a ten-point ‘green industrial revolution’ plan that made no mention of solar power, the City of London Corporation signed a 15-year, £40 million (€44.8 million) deal to buy all the electricity generated at a 49.9 MW solar park planned in Dorset, in the southwest of England. The corporation – which is elected largely by representatives of businesses in the ‘Square Mile’, the heart of the nation’s financial district – signed a deal with French renewables company Voltalia which will enable the developer to construct the 95,000-panel solar farm. The timing of the power purchase agreement (PPA) was not lost on Chris Hewett, chief executive of U.K. photovoltaic trade body the Solar Trade Association (STA). A statement issued by the STA in response to the prime minister’s solar snub quoted Hewett as saying: “Whilst the prime minister might have a blind spot for solar, decisions in the market are likely to outpace his thinking. Today the City of London signed a 15-year deal to fund a new solar park; residential solar installations have already bounced back to pre-pandemic levels; all major utilities are expanding their solar ambitions; and costs continue to fall. Delivering [a] net-zero [carbon economy] is now as much about economics as it is policy.”
PV Magazine 18th Nov 2020 read more »