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    Luminous Energy and Bristol Airport enter a solar energy agreement

    Bristol Airport has engaged in a groundbreaking 10-year virtual Corporate Power Purchase Agreement (CPPA) with Luminous Energy, a prominent renewable energy developer. This partnership secures pricing stability for Bristol Airport concerning a substantial portion of its energy requirements, along with Renewable Energy Guarantee of Origin (REGO) certificates verifying the production of clean energy.

     

    By embracing this innovative agreement, Bristol Airport strengthens its commitment to sustainability and endeavours to diminish carbon emissions, aligning with its overarching goal of achieving net zero emissions. Notably, this agreement represents the latest addition to a series of sustainability initiatives undertaken by the airport.

     

    The renewable energy will be generated by a solar farm in England, marking a pioneering venture that combines a government Contract for Difference (CfD) arrangement with a long-term corporate Power Purchase Agreement. This dual arrangement ensures that a significant portion of the solar farm’s revenues are contracted for up to 15 years, thereby supporting the expansion of renewable energy capacity.

     

    Luminous Energy enlisted the global law firm DLA Piper to serve as its legal advisor.

     

    Finance Director for Bristol Airport, Andrew Griffiths,  said “We are delighted to be working with Luminous Energy, as renewable energy is a key focus within our sustainability strategy. We are committed to meeting the airport’s electricity needs from renewable energy sources and this initiative will help us achieve net zero airport operations by 2030.”

     

    Chief Investment Officer at Luminous Energy, Guy Lavarack, commented “Combining two long-term power contracts is an innovative approach to underwriting renewable energy capacity. This agreement is an important step in our journey to transition to an independent power producer and highlights our strong track record in delivering new low carbon generation capacity in the global fight against climate change.”

     

    Global Co-Chair of Energy and Natural Resources at DLA Piper, Natasha Luther Jones, added “We are proud to have advised on this important and innovative CPPA and have worked with Luminous and Bristol Airport to ensure the future supply of renewable energy to support the airport’s sustainability journey.”

     

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