This is a landmark deal!
Twenty of the UK’s leading universities have struck a £50m deal to buy renewable energy directly from British windfarms for the very first time.
The collaborative clean energy deal will supply electricity from wind farms across Scotland and Wales to universities including Newcastle University, University of Exeter and Aberystwyth University.
Known as a “power purchase agreement” or PPA, this is the first time that public sector energy users have clubbed together to buy clean electricity.
We've seen a number of huge deals recently (last month, Google revealed the company’s $2bn plans for the biggest renewable energy deal in corporate history made up of 18 separate agreements to supply Google with 1,600MW from wind and solar projects across the world) but collaborative energy purchase deals mean that even small institutions are now “able to navigate a previously inaccessible market” too.
James Rolfe, the chief operating officer at Anglia Ruskin University, which is part of the deal, said the university has joined others in declaring a climate emergency, and plans to be climate neutral by 2030. “To support this commitment we aim to source all of our electricity from zero carbon sources by 2025, and this power purchase agreement makes a significant contribution towards this goal whilst delivering financial savings and budget stability”