Burges Salmon’s Projects team advised Low Carbon – a leading renewable energy investment and asset management company – on the PPAs which will see the creation of three solar farms in Essex, Anglesey and Oxfordshire.
The solar farms will generate up to 130GWh of energy per year, enough to power 44,828 three-bedroom homes, and will save 30,308 tonnes of CO2 per year, the equivalent of taking 14,457 cars off the road.
The PPAs represent a milestone and a major step forward for Low Carbon, whose advanced renewable energy pipeline stands at more than 4GW. Low Carbon will remain closely involved in the projects during construction and in operation through the provision of asset management services to maximise the operational and financial performance for each of the solar parks.
Roy Bedlow, Chief Executive and Founder of Low Carbon says: “We are delighted to support Tesco in its journey towards sourcing 100% of energy from renewable sources by 2030. Renewable energy generation at scale is central to Low Carbon’s business model and is a critical element in the fight against climate change. Partnering with forward thinking companies like Tesco will help speed the adoption of renewable energy at scale on the path to achieving a truly low-carbon economy.”
Ian Larivé, Investment Director, of Low Carbon says: “We are grateful for the Burges Salmon team’s support, industry insight and pragmatic advice on these PPAs.”
Partner Nick Churchward led the Burges Salmon team, supported by senior associate Peter Ramsden. Nick adds: “It’s great to have worked with Low Carbon on these PPAs and to see retailers like Tesco playing their part in delivering renewable energy generation at scale. This project represents a significant investment from Low Carbon and a significant commitment from Tesco. Their collaboration is something we should all applaud. We are fortunate in the UK to have investors like Low Carbon and corporates like Tesco willing to play their part in the UK achieving our shared net zero ambitions and decarbonising the economy.”