RWE, the UK's largest power generator and a global leader in renewable energy and five independent retail co-operatives – Lincolnshire Co-op, Scotmid Co-op, East of England Co-op, Southern Co-op and Central Co-op, who led on the deal – have signed a landmark 10-year corporate power purchase agreement (CPPA) to supply electricity from renewable energy sources to over 400 locations across the UK.
Starting the 1st of April 2025, the long-term contract will provide up to 53 gigawatt hours (GWh) of green electricity per year, enough to power over 400 retail stores, funeral homes, travel agents and more. Sourced from the London Array offshore wind farm in the outer Thames Estuary, this agreement will see significant savings for the five co-operatives throughout the lifetime of the CPPA.
The offshore wind farm London Array is operated by RWE and owned by a consortium of four partners: RWE (30%), Caisse de dépôt et placement du Québec, Greencoat UK Wind PLC, and Masdar Energy UK Limited. It has 175 wind turbines and an installed capacity of 630 megawatts. From the time of its fully commissioning in 2013 until September 2018, it was the largest offshore wind farm in the world.
This agreement is a significant milestone in the co-operative movement’s journey towards sustainability. By securing long-term renewable energy, these five independent co-operatives are not only reducing their carbon footprint but also reinforcing their commitment to ethical business practices and environmental responsibility. The agreement was made possible through a collaboration with Inspired PLC, the UK’s leading energy and sustainability advisor, who negotiated the CPPA, and Shoosmiths LLP, who led the legal negotiations. Notably, this deal was executed in just three months, less than half the usual timeframe, demonstrating the expertise and efficiency of the partnerships involved.
More information of the London Array windfarm can be found here
Source: RWE
