RWE, Co-op Ink 7-Year PPA for Clean Energy Transition
RWE, a major player in the renewable energy sector, has inked a significant deal with the Co-op Group. The seven-year power purchase agreement (PPA) will see RWE supply the British retailer with clean electricity from the Gwynt y Môr offshore wind farm in the Irish Sea. This move aligns with Co-op's ambitious net-zero targets, validated by the Science Based Targets initiative (SBTi) earlier this year.
The Gwynt y Môr wind farm, inaugurated in 2015, boasts a capacity of 576 MW. It's located off the coast of North Wales and is operated by a consortium that includes RWE. Under the terms of the PPA, RWE will provide Co-op with 33 GWh of clean electricity annually. This is enough to power approximately 140 of Co-op's food stores each year. The electricity will also be used to light up the retailer's distribution centers and funeralcare homes across the UK.
Co-op's commitment to sustainability is evident in its net-zero targets. The retailer aims to achieve net-zero across its operations by 2035 and its entire business by 2040. This PPA is a significant step towards reaching those goals, demonstrating Co-op's dedication to reducing its carbon footprint.
The PPA between RWE and Co-op Group is set to bring clean energy to the retailer's operations. It's a testament to both companies' commitment to sustainability and a significant stride towards Co-op's net-zero targets. With this deal, Co-op continues to lead the way in the UK retail sector's transition to a low-carbon future.
