Vodafone’s major solar deal with Centrica to boost UK’s green energy industry
Telecoms giant Vodafone today announced it has signed a 10-year solar power deal with British Gas owner Centrica, which the firms said will significantly ramp up renewable energy production in the UK.
The deal, or power purchase agreement, will see the construction of five solar farms across England.
The farms, the firms said, will help remove more than 50,000 tons of carbon, equivalent to taking 31,000 cars off the road, while generating 215 gigawatt hours of power.
Construction will begin this year with energy generation expected from early 2024.
While Vodafone said it uses 100 per cent renewable energy for its grid electricity usage, the agreement means a major proportion of its renewable energy supplies will now come from the UK, rather than imported from abroad.
Vodafone said the deal will help improve energy security and help it meet its net zero goals.
“The energy crisis has highlighted we must work together – as governments, businesses and society – to change how we produce and consume energy”, Ahmed Essam, UK CEO of Vodafone, said. “Today’s announcement ensures a significant proportion of our energy requirement, for at least the next 10 years, is home-grown in the UK.”
Chief executive of Centrica, Chris O’Shea, 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.”
Greek conglomerate Mytilineos, which is also involved in the deal, said it was also prod to be part of “the biggest solar corporate PPA deal in the UK to date.”