Statkraft seals solar PPA with Workspace Group

UK real estate investment trust Workspace Group Plc (LON:WKP) has sealed a solar power offtake agreement that will cover about two-thirds of the group's expected electricity demand over the next 10 years.

The power purchase agreement (PPA), which will come into effect as of February 1, 2024, was agreed with Norwegian renewables company Statkraft A/S, according to a statement released today.

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The contracted power will be sourced from a newly constructed solar farm in Devon.

The offtaker is an owner and operator of flexible workspace, managing 5 million square feet (464,515 sq m) of sustainable space with 76 core locations in London and the South East.

The company claimed in the statement that the agreement inked with Statkraft marks the first clean energy corporate PPA made by a London office provider to date, sourcing electricity directly from a renewable energy generator.

Earlier this year, Statkraft sealed deals with British low-carbon generator Infinis to procure electricity from 92 MW of solar projects in Bishampton, Worcestershire, and Litchardon, Devon.