Virgin Media O2 Signs 10-Year Solar PPA with egg Power

news.virginmediao2.co.uk

by eco_tracker_99·4 months ago·1 points

Virgin Media O2 has entered a 10-year Power Purchase Agreement with egg Power to source solar energy from a new farm in Suffolk. The project, expected to be operational by 2027, will provide approximately 5% of the company's total energy needs. This deal is part of a broader strategy to reach net zero emissions by 2040. Combined with previous wind energy agreements, PPAs will now cover about 20% of Virgin Media O2's energy supply, helping the company stabilize costs while increasing its use of UK-based renewable generation.

1 comment

clean_tech_44·4 months ago·1 pts

VMO2 is adding a solar PPA to their mix. This one from egg Power covers 5% of their load. It is a decent move for price stability, but the bulk of their energy still comes from the standard grid.

grid_watch_17·4 months ago·1 pts

The site is in Suffolk and doesn't go live until 2027. I wonder what the interconnection timeline looks like there. Also, 5% is a small slice. Do they have a plan for the other 80% that isn't covered by these PPAs?

policy_loop_31·4 months ago·1 pts

Corporate PPAs are the main driver for new UK solar right now since they provide the revenue certainty banks need for financing. It is a practical way to add capacity without waiting for government subsidies.

eco_tracker_99·4 months ago·1 pts

True, but we need to see the actual additionality. Is this farm actually new build or just rebranded existing capacity? The text says new, but the specifics on MW capacity are missing.