Published: 23 Jun 2021, 12:28
Energy buying group Co-op Power is to double its number of power purchase agreements (PPAs), as it looks to expand its offering.
As part the Co-op group’s recent ten point climate plan, the membership organisation is working to achieve net zero emissions from its operations by 2040 and will expand its wind and solar energy buying group as part of this.
Co-op Power is to develop a co-operative PPA proposition that will allow multiple customers to join together to negotiate a PPA with third parties. Should the customers fail to meet a required purchasing threshold, Co-op Power will step in and commit as a further partner within the agreement, making up any shortfall. This will help those who otherwise might not have the size or capability to do this in house to commit to a PPA.
Additionally, it will look to roll out products and services to support local solar generation, including increasing the installation of solar panels on roof buildings. It pointed to the success of its 3.5MW solar PV installation at Biggleswade, which is the Co-op’s greenest UK depot. The rest of the required electricity for this site is set to come from Biggleswade wind farm, which the Co-op helped to develop.
David Roberts, Co-op Power managing director, said that by expanding the company and increasing the number of PPA’s it holds, the company can reinforce its climate commitments.
“60% of our supply chain admit they don’t have the resource to reach net zero alone, co-operation is in our DNA and we are keen to share our expertise with others,” Roberts added.
The expansion of Co-op Power follows the company’s utility arm launching the Community Power tariff last year, which ensures all the electricity provided is sourced from community renewable energy projects.