Lightsource bp, the British solar power projects developer, has unveiled a collective power purchase agreement (PPA) model to aggregate demand from European corporates with smaller energy needs, for its Spanish solar assets.
According to the bp joint venture company, this model will simplify access to renewable energy for the buyers, enabling them to deal with price volatility and also build new solar power capacity for climate change mitigation.
It mainly targets smaller companies with lower electricity demand that are unable to smoothly secure long-term renewable power contracts due to lower annual energy consumption.
Lightsource says its initiative will aggregate the demand of such firms and provide them solar power from its portfolio of Spanish solar assets that are due to enter construction in 2024.
"We've seen some of the world's largest businesses using PPAs to benefit from the affordable and predictable pricing of renewables while supporting the energy transition's continuing momentum," said Director of Power Markets at Lightsource bp, Zosia Riesner. "Our collective PPA approach can share those benefits to companies with far lower energy usage while enjoying the scale delivered by a solar portfolio from our 1GW pipeline in late stage of development in Spain."
Touting a mature global solar development pipeline exceeding 35 GW, Lightsource is now inviting interested companies to join the initiative which follows its maiden collective PPA in Spain that it signed with The Fashion Pact (see Fashion Industry Going For Solar Power Procurement).