DJ Voltalia signs a power sales contract with the City of London
Voltalia SA
Voltalia signs a power sales contract with the City of London
18-Nov-2020 / 07:20 CET/CEST
Dissemination of a French Regulatory News, transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.
City's 'pioneering' green energy deal could be blueprint for local
authorities
Voltalia (Euronext Paris, ISIN code: FR0011995588), an international player
in renewable energies, strengthens its presence in the United Kingdom and
will build a 49.9-megawatt solar power plant to supply green electricity to
the City, London's prestigious business district, under a 15-year contract.
A 'pioneering' GBP40 million green energy deal could provide a blueprint for
local authorities seeking to reduce carbon emissions and cut costs, the City
of London Corporation says.
The governing body of the Square Mile has signed a power purchase agreement
with Voltalia - an international player in renewable energies - to buy all
the electricity produced by a new-build 95,000-panel solar farm in Dorset
for 15 years.
The deal, the first of its kind in the UK to be signed directly between a
renewables producer and governing authority, will enable Voltalia to
leverage cash to build the facility, while saving the City Corporation
around GBP3 million in energy costs.
It says the arrangement will allow cost certainty and avoid the risks
involved with local authority-owned energy firms, following recent
high-profile selloffs of loss-making council-owned companies in Nottingham
and Bristol.
The solar plant will have a total capacity of 49.9 megawatts - enough to
power the equivalent of 15,000 homes - and will provide over half the City
Corporation's electricity, powering buildings including its historic
Guildhall headquarters, three wholesale markets and the Barbican arts
centre.
The new deal forms part of the organisation's wider commitment to climate
action. Its Climate Action Strategy, launched last month, commits it to
making the Square Mile net zero for carbon emissions by 2040 - 10 years
earlier than Government goals.
Jamie Ingham Clark, Chair of the City of London Corporation's Corporate
Asset Sub-Committee, said:
"This is a pioneering scheme which we hope will lead the way for local
authorities across the UK. It means they can play their part in reducing
emissions without the risks of owning their own energy firms or
infrastructure and without the need for Government funding.
"Like many organisations, we face an uncertain economic landscape in the
wake of Brexit and COVID-19. However, we can't allow that to prevent us
tackling climate change, which is now recognised as a global issue which
requires immediate action and investment.
"The deal, which supports our ambitious Climate Action Strategy, will help
cut emissions and give us a cheaper, more secure electricity supply
protected from the price volatility of energy markets."
Voltalia has had a presence in the UK since 2012, developing, constructing
and operating 22 solar farms with a total capacity of 193 megawatts - with
more in the pipeline.
Voltalia CEO Sebastien Clerc said:
"We are very proud to support the City of London Corporation in its 2040 net
carbon zero target by providing clean electricity to the historic Square
Mile and the financial and commercial heart of the UK.
"This new success confirms our leadership in corporate PPA solutions and
highlights our capacity to respond to organisations' challenges when it
comes to energy transition. Our model, know-how and strong track-record
across the value chain of renewable infrastructure enable us to offer
competitive and de-risked energy.
"We are thrilled to be expanding our positions in the UK to further enhance
our ability to source and secure Power Purchase Agreements within the
country and to boost our UK capability in Asset Management to ensure
projects perform in line with expectations."
The City Corporation has been sourcing 100 per cent renewable electricity
through existing infrastructure since 2018, but the deal with Voltalia will
enable the creation of new green infrastructure, reduce the need for fossil
fuels and help meet green energy goals.
The City Corporation's Climate Action Strategy commits the organisation to
creating more space for walking and cycling in the Square Mile, with wider
pavements and new parks, and updating planning regulations to encourage more
sustainable buildings, creating 800 green jobs.
The City Corporation worked with global professional services network Ernst
& Young and multinational law firm DLA Piper on the deal. Voltalia were
advised on the PPA tender process by Burgess Salmon and Norton Rose
Fulbright. The solar farm near the village of Spetisbury, Dorset, was
granted planning permission by Dorset Council in February.
Notes to editors
The City of London Corporation is the governing body of the Square Mile
dedicated to a vibrant and thriving City, supporting a diverse and
sustainable London within a globally successful UK - www.cityoflondon.gov.uk
[1]
About Voltalia (www.voltalia.com [2])
Voltalia is an international player in the renewable energy sector. The
Group produces and sells electricity generated from wind, solar, hydraulic,
biomass and storage facilities that it owns and operates. Voltalia has
generating capacity in operation and under construction of more than 1.3 GW
and a portfolio of projects under development representing total capacity of
8.5 GW.
Voltalia is also a service provider and supports its investor clients in
renewable energy projects during all phases, from design to operation and
maintenance.
As a pioneer in the corporate market, Voltalia provides a global offer to
private companies, ranging from the supply of green electricity and energy
efficiency services to the local production of their own electricity.
The Group has 994 employees and is present in 20 countries on 4 continents
and is able to act worldwide on behalf of its clients.
Voltalia is listed on the regulated market of Euronext Paris, compartment B
(FR0011995588 - VLTSA) and is part of the Enternext Tech 40 and CAC Mid &
Small indices. The Group is also included in the Gaïa-Index, an index for
socially responsible midcaps.
City of London Corporation Voltalia - investor relations
Tim Fletcher Investor Relations
tim.fletcher@cityoflondon.gov.uk invest@voltalia.com
+44 (0)7738 862229 +33 (0)1 81 70 37 00
Voltalia - Alpaca Communications Voltalia - press contact
Ryan O'Leary jjullia@actifin.fr
ryan@alpacacommunications.com +33 (0)1 56 88 11 11
+44 (0)7531 326678
Regulatory filing PDF file
File: pdf-veng [3]
Language: English
Company: Voltalia SA
84 boulevard de Sébastopol
75003 Paris
France
E-mail: invest@voltalia.com
Internet: www.voltalia.com
ISIN: FR0011995588
Euronext Ticker: VLTSA
AMF Category: Inside information / Other releases
EQS News ID: 1148895
End of Announcement EQS News Service
1148895 18-Nov-2020 CET/CEST
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November 18, 2020 01:20 ET (06:20 GMT)
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