PVTIME – Voltalia (Euronext Paris, ISIN code: FR0011995588), an international player in renewable energies, announces that it has completed the commissioning of the South Farm solar project. The 49.9 megawatt solar plant will supply clean electricity to the City of London Corporation for 15 years through a Corporate Power Purchase Agreement (CPPA) signed in 2020.
The City of London Corporation signed a CPPA1 with Voltalia under which the governing body of the Square Mile agreed to procure all the electricity produced by the new-build South Farm solar plant near the village of Spetisbury in Dorset, for a total period of 15 years.
The deal, which was the first of its kind in the UK to be signed directly between a renewables producer and a public governing authority, will help City of London Corporation provide cheap and sustainable electricity supply protected from the price volatility of energy markets.
Amid a challenging macro environment, Voltalia has completed the South Farm solar plant with a total capacity of 49.9 megawatts, equivalent to the annual electricity consumption of approximately 35,000 people. This represents nearly 20,000 tons of CO2 avoided. It will cover over half the City Corporation’s electricity needs, powering buildings including its historic Guildhall, three wholesale markets and the Barbican Arts Centre.
“The completion of South Farm is a great achievement. I would like to warmly thank all the Voltalia teams and our local British suppliers and subcontractors, who have been working together on this project. In the current energy crisis, we are very proud to supply clean and cheap electricity to some of London’s most iconic landmarks. With this 15 year contract we are actively supporting the City of London Corporation in mitigating its energy budget volatility and reaching its net carbon zero target by 2027,” said Sébastien Clerc, CEO of Voltalia.
“This scheme is a pioneering blueprint by the City Corporation for local authorities across the UK, cutting carbon emissions and giving cheaper, more secure energy, protected from the price volatility of energy markets. The deal will increase our green energy supply, has no reliance on taxpayer funding, and helps us transition quickly away from fossil fuels,“ said Keith Bottomley, Chairman of the City Corporation’s Environment Committee.