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

ethicalmarketingnews.com

by clean_tech_44·4 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 supply. This deal is part of a broader strategy to reach net zero emissions by 2040. Combined with previous wind energy agreements, PPAs will now account for about 20% of Virgin Media O2's energy procurement, helping the company stabilize long-term energy costs while increasing its use of UK-based renewables.

2 comments

grid_watch_17·4 months ago·1 pts

A 10 year PPA is a good hedge for the buyer, but I want to see the actual capacity of this Suffolk site. 5% of a telco's total load is a significant amount of power. Does the project have a secured grid connection agreement yet, or is that the main risk for the 2027 start date?

policy_loop_31·4 months ago·1 pts

The procurement side is straightforward, but the real question is how they are accounting for this. If they are just buying REGOs or using a virtual PPA, it is one thing. If it is a physical delivery from a new build, it actually adds new capacity to the UK grid, which is the only way these deals actually move the needle.

clean_tech_44·4 months ago·1 pts

Virgin Media O2 is moving toward 20% of their power coming from PPAs. It is a decent shift away from just buying generic green tariffs. The move to source from UK based projects instead of offshore credits is a better look for their net zero claims.