£500m green power deal
Haven Power, the specialist electricity supplier to UK businesses and part of Drax Group plc, has signed a deal with Thames Water to supply their electricity requirements in a deal worth more than £500m over five years. There is an option for two further five-year renewals that could increase the overall value of the contract to more than £1.5bn over 15 years.
Haven Power is the UK’s largest independent electricity supplier to businesses and sources its power from the Drax power plant in Selby, Yorkshire, which, as a result of its world leading biomass transformation, is now the UK’s single largest supplier of renewable energy. The deal will enable Thames Water, which already sources about 20 per cent of its electricity through self-generated renewables such as solar, wind, hydro and biogas, to meet all of its electricity needs from renewables.
Peter Bennell, Haven Power CEO, said: “It’s an exciting time for Haven Power and Thames Water – this contract shows a real dedication to a sustainable future. Thames Water’s use of renewable power is a fantastic example for other businesses to follow. From SMEs right up to large commercial and industrial businesses, our Renewable Power option is an excellent way for companies to improve their sustainability credentials – and it doesn’t cost the earth.”
Issue 122 July 2015