A 15-year Power Purchase Agreement between Conrad Energy and BNP Paribas has been inked for the renewable energy generated by Conrad Energy’s newest solar farm in Herefordshire, England.
Over 40,000 MWh of renewable electricity are anticipated to be produced annually by the Larport Solar Farm, saving about 9432 tonnes of carbon dioxide.
The largest flexible energy producer in the UK is Conrad Energy, which enables more renewable energy to supply the national grid in the UK.
The innovative and data-driven approach it takes to energy solutions is revolutionising how Britain moves towards a low-carbon economy.
Steven Hardman, Conrad Energy chief executive, said “We have been excited at Conrad Energy about the potential for the Larport site 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.”
The largest bank in the eurozone, BNP Paribas, has already made a significant shift towards financing low-carbon energies. It is a founding member of the Net-Zero Banking Alliance, which was established by the UN Environment Programme Finance Initiative with the goal of mobilising the financial sector to support the transition to more sustainable economies.
Financing for the production of low-carbon energy was already 20% greater at the end of September 2022 than for the production of fossil fuels, and by 2030, BNP Paribas will have finished switching over 80% of its energy financing activities to low-carbon technologies.
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.”
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