RWE has signed a 10-year corporate power purchase agreement (CPPA) with five independent retail co-operatives to supply electricity from renewable energy sources to over 400 locations across the UK.
The deal with Lincolnshire Co-op, Scotmid Co-op, East of England Co-op, Southern Co-op and Central Co-op will provide up to 53GWh of green electricity per year, starting from 1 April 2025.
The power will come from the London Array offshore wind farm in the outer Thames Estuary and will offer savings to the five co-operatives throughout the lifetime of the CPPA.
The offshore wind farm London Array is operated by RWE and owned by a consortium of four partners: RWE (30%), Caisse de dépôt et placement du Québec, Greencoat UK Wind, and Masdar Energy UK.
It has 175 wind turbines and an installed capacity of 630MW. From the time of its fully commissioning in 2013 until September 2018, it was the largest offshore wind farm in the world.
Ørsted was previously a stakeholder in the London Array project, but sold its last remaining 25% stake in 2023 to Greencoat in a deal worth £717m.
When the wind farm entered into commercial operations in 2013, it was the largest such project in the world until it was overtaken in 2018 by the 659MW Walney Extension.
Energy and sustainability advisor Inspired PLC negotiated the CPPA while Shoosmiths LLP led the legal negotiations.
Notably, this deal was executed in just three months, less than half the usual timeframe, demonstrating the expertise and efficiency of the partnerships involved.
