Sustainable Energy First secures Power Purchase Agreement for BNP Paribas

Sustainable Energy First is proud to announce the delivery of a 15-year Power Purchase Agreement (PPA) for its client, BNP Paribas, a major international banking group, as they continue their journey towards decarbonisation.

The construction of the 120-acre Larport solar farm in Herefordshire is scheduled to be commissioned in summer 2024 and expected to deliver over 40,000 MWh of renewable energy annually, saving around 375,000 tonnes of carbon energy over the course of its 40-year lifecycle.

The PPA provides BNP Paribas with 100% renewable electricity for a minimum of 15 years
from a guaranteed and traceable source. Our client has facilitated the development of a
renewable generation asset and secured security of supply and long-term price protection,
supporting the UK’s energy transition to more renewable power projects.

“We are delighted to work in partnership with BNP Paribas to facilitate the agreement with Conrad Energy, bringing both parties together in a long term PPA, enabling BNP Paribas to take a significant step in transitioning to low-carbon energy and net zero banking”.

Anthony Mayall,
CCO for Sustainable Energy First

As the UK faces a challenge to decarbonise its energy supplies, solar photovoltaics (PV) projects are an economically viable and low-cost form of new electricity generation in the UK. The site will cover the solar farm and an extensive part of land dedicated to biodiversity gain, featuring natural grassland and wildflower meadows. The project will play an instrumental role in achieving BNP Paribas’ ambitious targets to transition to a low carbon economy as well as diversify its energy sources.

“The energy from Larport is a key step in decarbonising our UK operations; with this
agreement in place we have taken a significant step on our path to net-zero banking.”

Emmanuelle Bury-Lucas,
UK Country Head, BNP Paribas

At the very heart of the BNP Paribas Group’s raison d’être is its ambition to be a leading player in the movement towards a more sustainable economy. A longstanding client, Sustainable Energy First were able to support BNP Paribas in their pursuit of positive environmental impacts and facilitate the agreement to strengthen their green credentials and complement their continued transition to low carbon energy on a pathway to net zero banking.

Pictured are representatives of BNP Paribas and Sustainable Energy First.

Emmanuelle Bury-Lucas (UK Country Head, BNP Paribas), Matt Osborne (Head of Risk, Sustainable Energy First), John Sheldrake (Head of Facilities and Security, BNP Paribas), Matt Teece (Senior Strategic Account Manager, Sustainable Energy First), Karen Robson (Chief Procurement Officer, BNP Paribas), Kate Constance (Procurement Manager, BNP Paribas)

If you are interested in finding out more about arranging a CPPA or other ways to access true renewable energy click below.