MYTILINEOS through the Renewable Energy Development and Storage Sector (RSD) and Centrica have signed an Energy Purchase Agreement (PPA) with Vodafone UK related to energy generated by three photovoltaic parks in the United Kingdom.
In particular, these photovoltaic parks are located in the areas of Lincolnshire, Worcestershire and Nottinghamshire with a total capacity of 110 MW. All projects have been developed and manufactured by the RSD MYTILINEOS Sector. The Commercial Operation Date (COD) is expected to be phased in during 2022 and the first quarter of 2023.
The projects will generate more than 109 gigawatt hours of renewable energy, reducing more than 25,000 tonnes of CO2 emissions a year – the equivalent of removing some 14,800 cars off the road.
Nikos Papapetrou, General Manager of MYTILINEOS RSD Sector, said about the agreement: “The cooperation with Vodafone is another important milestone for our growth strategy in Europe. The Energy Market Agreements (PPA) are an important tool for the national goals “to reduce the carbon footprint of companies. We are proud to be at the forefront with Vodafone and Centrica.”
The agreement between Vodafone, MYTILINEOS and Centrica supports the ambitious goals of the UK for “green” energy produced in the country and promotes long-term energy independence and security.
Vodafone UK CEO Ahmed Essam said: “Achieving the ambitious goal of zero carbon emissions is a crucial part of our corporate strategy. “Today ‘s announcement ensures that a significant proportion of our energy demand for at least the next 10 years will be generated in the United Kingdom. green “energy in the country network.”
When the photovoltaic plants are put into operation, 50% of the total energy production – equivalent to 54 gigawatt hours from renewable sources – will be channeled through a ‘sleeving’ agreement (credit agreement covered by tangible assets) between Centrica and Vodafone.
Cassim Mangerah, CEO of Centrica Energy Marketing & Trading, said: “Building on our long-standing customer relationship with Vodafone, this agreement further underscores our reputation as a leading player in the European energy markets. Helping companies help “Green procurement strategies, we promote the ‘green’ transition by supporting the development, management and optimization of new renewable energy assets.”
MYTILINEOS RSD Sector has already established itself in the United Kingdom as part of the Company’s strategic targeting, both in solar energy and in its storage. The Company already has a growing portfolio of 133 MW in the country and plans to add another 300 MW in 2022.
The total capacity of the international portfolio of the RSD Sector is of the order of 2,140 MW, of which:
123 MW in operation
657 MW under construction
475 MW Ready To Build (Ready To Build – RTB)
884 MW in final stages of development and estimated RTB in the first and second half of 2022
This portfolio also includes a series of projects in an early stage of development, with a capacity of about 3 GW.
DLA & Our New Energy provided consulting service to MYTILINEOS regarding this transaction.
Source: Capital
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
