Conrad Energy, the UK's largest flexible energy producer, has signed a 15-year Power Purchase Agreement (PPA) with BNP Paribas for renewable energy from its latest solar farm in Herefordshire, England. The Larport Solar Farm is expected to produce over 40,000 MWh (megawatt hours) of renewable electricity per year, which could potentially reduce carbon dioxide emissions by 9,432 tonnes annually.
This partnership showcases Conrad Energy's pioneering and data-driven approach towards sustainable energy solutions, which is transforming the way the UK transitions to a low-carbon economy. Steven Hardman, Conrad Energy's Chief Executive, said, “To secure this kind of agreement with a partner as dedicated to the transition to net zero as BNP Paribas supports our belief that the upcoming milestones for periods of zero carbon electricity are achievable.”
BNP Paribas, the largest bank in the eurozone, has been a founding member of the Net-Zero Banking Alliance, which aims to mobilize the financial sector to support sustainable economies. The bank has already made significant strides in financing low-carbon energy production, with nearly 20% more financing allocated towards renewable energy production than fossil fuel production by the end of September 2022. The bank plans to transition over 80% of its energy financing activities to low-carbon technologies by 2030.
Emmanuelle Bury, UK Country Head at BNP Paribas, said, “We are excited to be working in partnership with Conrad Energy to deliver this corporate PPA. The energy from Larport is a key step in decarbonising our UK operations. With this agreement in place we have taken a significant step on our path to net-zero banking.”
This collaboration represents a significant step forward towards achieving a net-zero future, as both Conrad Energy and BNP Paribas demonstrate their commitment to sustainability and the transition to renewable energy.
