Last Updated on: 22nd November 2023, 06:54 am
Conrad Energy and BNP Paribas have today signed a 15-year Power Purchase Agreement (PPA) for the renewable energy from Conrad Energy’s newest solar farm in Herefordshire.
The site at Larport is expected to generate over 40,000 MWh (megawatt hours) of renewable electricity annually, saving an estimated 9,432 tonnes of carbon dioxide every year.
Steven Hardman, Conrad Energy’s CEO, commented: “We have been excited at Conrad Energy about the potential for the Larport Solar Farm since 2019. 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.”
A founding member of the Net-Zero Banking Alliance, launched by the UN Environment Programme Finance Initiative, BNP Paribas, the eurozone’s largest bank, has already made a major pivot towards financing low-carbon energies. According to the bank, by the end of September 2022, financing of low-carbon energy production was already nearly 20% higher than financing for the production of fossil fuels. It further plans to transition over 80% of its energy financing activities to low-carbon technologies by 2030.
Emmanuelle Bury, UK Country Head for BNP Paribas, commented: “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.”
Conrad Energy is the largest flexible energy producer in Great Britain, aiding the UK’s transition to a low-carbon economy.
BNP Paribas and Conrad Energy have today announced the signing of a 15-year Power Purchase Agreement (PPA) for renewable energy from Conrad Energy’s newest solar farm in Herefordshire.
The Larport site is expected to provide over 40,000 MWh (megawatt hours) of renewable electricity annually, saving an estimated 9,432 tonnes of carbon dioxide each year.
Steven Hardman, Conrad Energy’s CEO, said: “We have been excited at Conrad Energy about the potential for the Larport Solar Farm since 2019. 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 eurozone’s largest bank and a founding member of the Net-Zero Banking Alliance, is already significantly increasing financing for low-carbon energies. According to the bank, by the end of September 2022, financing of low-carbon energy production was nearly 20% higher than financing for the production of fossil fuels and it plans to transition over 80% of its energy financing activities to low-carbon technologies by 2030.
Emmanuelle Bury, UK Country Head for BNP Paribas, added: “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.”
Conrad Energy is the largest flexible energy producer in Great Britain and is transforming the way the UK transitions to a low-carbon economy.
