A consortium of 20 universities in the United Kingdom signed an aggregated power purchase agreement for onshore wind energy.
Under the contract worth £50 million, the universities, including Newcastle, Exeter and Aberystwyth, will lock in a portion of their power at a fixed price over a 10-year period.
Electricité de France SA unit EDF Energy (UK) Ltd. is acting as the energy partner for the universities. Statkraft AS and Squeaky Clean Energy Ltd. will supply the wind capacity, which will contractually flow with the renewable energy guarantees of origin according to news release.
The deal is intended to help the U.K. to transition to net zero carbon emissions by 2050.
