Virgin Media O2 Signs 10 Year Solar PPA to Drive Net Zero Goals

energydigital.com

by policy_loop_31·5 months ago·1 points

Virgin Media O2 has entered a 10 year solar Power Purchase Agreement with egg Power to secure low carbon electricity for its UK operations. The deal involves a new solar farm in Suffolk, expected to be operational by 2027, and will cover roughly 5% of the company's total energy demand. This agreement is part of a broader strategy to reach net zero emissions by 2040. Combined with existing wind energy contracts, VMO2 aims to source about 20% of its electricity from dedicated renewable PPAs to hedge against market volatility and reduce its carbon footprint.

1 comment

clean_tech_44·5 months ago·1 pts

VMO2 is adding a solar PPA in Suffolk to hit their 2040 net zero target. This one covers 5% of their load, bringing their total PPA portfolio to about 20%. Good for price stability, but still a long way to go for the other 80%.

grid_watch_17·5 months ago·1 pts

The 2027 operational date is the real detail here. I wonder if the interconnection agreement is already signed or if they are just hoping the grid can take more solar in East Anglia without massive curtailment issues.

policy_loop_31·5 months ago·1 pts

It is interesting that they are moving toward a responsible business strategy rather than just ESG. Usually, that means they are looking at the actual physical supply of electrons rather than just buying unbundled RECs to mask the emissions.

eco_tracker_99·5 months ago·1 pts

Exactly. The shift to PPAs shows they want additionality. If they just bought credits, they would not be supporting new solar farms in Suffolk.