This is the second major solar PPA for MYTILINEOS, Vodafone and Centrica, following the announcement last year for the supply of 109 GWh of renewable electricity, and is one of the largest deals to date in Europe. The solar farms located in Norfolk, Nottinghamshire, Staffordshire, Buckinghamshire and Dorset, have an overall capacity of 232 MW. All projects were developed and are currently under construction by MYTILINEOS and Commercial Operation Date (COD) is expected in stages across 2023 and Q1 2024.
These solar assets will generate 216 gigawatt hours of electricity, and displace more than 53,000 tonnes of CO2e emissions, every year, the equivalent of taking c.31,400 cars off the road, supporting U.K.’s commitments on clean energy, aiding also the country’s energy independence and security.
Yiannis Kalafatas, Chief Executive Director of MYTILINEOS’ Energy Sector stated: “We are excited about this second transaction with Vodafone, as this demonstrates our capability to support renewable energy and energy independency in U.K. We are also proud of being able to achieve such a milestone - both as a Developer and a Generator – by signing the biggest solar Corporate PPA in the UK to date.”
The deal, between Vodafone, Centrica as the power supplier and MYTILINEOS as the generator, supports the UK government’s ambition to focus on home-grown, clean and more affordable energy and so boost long-term energy independence and security.
Ahmed Essam, UK CEO, Vodafone, said: “The energy crisis has highlighted we must work together – as governments, businesses and society – to change how we produce and consume energy. Today’s announcement ensures a significant proportion of our energy requirement, for at least the next 10 years, is home-grown in the UK. I’m pleased Vodafone is helping to progress the development of new renewable power sites and supporting the delivery of green energy to the UK grid. Importantly, this also gives Vodafone UK improved energy security and price certainty and will help us achieve net zero for our UK operations by 2027.”
Once the solar plants are energised, 50% of the total electricity output -equal to 108 gigawatt hours of renewable electricity- will be delivered through a sleeving agreement arranged by Centrica to Vodafone.
Chris O’Shea, Chief Executive Officer of Centrica said: “Power purchase agreements such as this are going to be essential to the growth of renewable energy in the UK and Europe, helping secure guaranteed returns for developers, and encouraging growth in the sector. They are also key to how large organisations like Vodafone decarbonise their operations. We’re delighted to build on our longstanding relationship with Vodafone and support them on their net zero journey.”
MYTILINEOS is already established in the U.K. as it is considered a strategic domain for the Company in both solar and storage business. The Company currently has in the country a portfolio of 268 MW in development and is planning to add additionaly 400 MW during 2023.
- The total capacity of MYTILINEOS’ international RES portfolio, which consists of projects in several countries and various stages of development of 9.1 GW, is accelerating. More specifically:
- 539 MW in operation
- 1.0 GW under construction
- 2.2 GW in mature stage of development, i.e. projects either on a RTB or soon RTB stage
- >5 GW in less mature stage of development
MYTILINEOS was advised by DLA on the transaction.
