British solar developer Lightsource bp has secured a 15-year power purchase agreement (PPA) for 50 GWh annually with local building products manufacturer Forterra for the latter's new brick factory providing its price stability and security.
Forterra's new state-of-the-art brick production factory will cost an investment of £95 million which will take boost its overall production by 22%. It sees the PPA with Lightsource bp as providing lock-in price certainty and value with renewable energy, against the backdrop of rising energy costs in Europe.
It brings the company greater visibility and reduces risks associated with volatile energy prices and limited supply as it targets an emissions reduction of 32% by 2030, over 22% reduction it has already achieved in 2010-19.
"This agreement will provide us with price security and stability alongside the clear sustainability benefits," said Forterra Chief Executive Stephen Harrison. "It sees us make tangible progress in the race to net zero. Rather than relying on green energy generated by others, we are actually investing in a dedicated source of renewable energy generation…"
In July 2022, Lightsource bp secured a 15-year PPA in Brazil with an independent energy trader called America Energia for its 210 MW Milagres Solar Plant (see Latin America PV News Snippets).
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