Lightsource bp strikes long-term PPA for new UK brick factory

UK solar developer Lightsource bp today unveiled a large-scale solar power purchase agreement (PPA) with Forterra PLC (LON:FORT) to supply a new factory of the UK-based brick maker.

Under the 15-year PPA, Lightsource bp will provide Forterra with a total of 50 GWh of electricity a year. The manufacturer plans a new GBP-95-million (USD 115m/EUR 113m) brick factory that will increase its production by more than a fifth. It aims to reduce emissions by 32% by 2030, building upon a 22% reduction in the 2010-2019 period.

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The deal will give Forterra lock-in price certainty at a time of surging energy costs in Europe, says the announcement.

“This agreement will provide us with price security and stability alongside the clear sustainability benefits,” commented Forterra chief executive Stephen Harrison.

(GBP 1 = USD 1.212/EUR 1.188)