edie launches business guide to Corporate Power Purchase Agreements
Organisations looking to understand the benefits of Corporate Power Purchase Agreements (CPPAs) for renewable energy now have access to a free 'edie Explains' guide which breaks down everything you need to know about them.
The seven-page edie Explains: Corporate Power Purchase Agreements (CPPAs) business guide, produced in association with edie's supporting partner Ørsted, provides an in-depth summary of how CPPAs can deliver renewable energy targets and support sustainability strategies.
What exactly is a CPPA and why should businesses consider this route? What are the potential business benefits of CPPAs? And what considerations should be made when putting in place a new CPPA? This free edie Explains guide answers all of these questions, also incorporating a number of 'top tips', case studies and an industry viewpoint.
Specifically, the guide showcases the real-life example of Northumbrian Water, which signed a long-term CPPA with Ørsted – the first deal of its type in the UK to secure procurement from an offshore windfarm.
Quoted in the guide is Northumbrian Water's group commercial director Graham Southall, who says: "[The CPPA] aligns perfectly with our sustainability goals. The long-term stability this brings is fantastic for us, and great news for our customers and stakeholders, because it reduces operational costs without comprimising our work."
Northumbrian Water's CPPA will deliver approximately 100GWh per year of renewable electricity from the Race Bank offshore windfarm, off the coast of Norfolk, amounting to 1TWh across the agreed term.
Read the edie Explains: Corporate Power Purchase Agreement (CPPA) guide here.