Twenty UK universities have agreed £50m deal to buy renewable energy from British windfarms

Twenty of the UK’s leading universities have struck a £50m deal to buy renewable energy directly from British windfarms for the first time.

The collaborative clean energy deal will supply electricity from wind farms across Scotland and Wales to universities including Newcastle University, University of Exeter and Aberystwyth University.

The landmark deal, known as a “power purchase agreement” or PPA, is the first time that public sector energy users have clubbed together to buy clean electricity.

The PPA was arranged by deal brokers at The Energy Consortium and Squeaky Clean Energy to fix the price of renewable electricity from a portfolio British windfarms for the next 10 years. Continue reading “Twenty UK universities have agreed £50m deal to buy renewable energy from British windfarms”

Subsidy-free renewable energy projects set to soar in UK, analysts say

Photograph: Mike Kemp/Corbis via Getty Images

The UK is well on the way to a new era of subsidy-free renewable energy projects that will largely kill off prospects for new gas power stations, according to industry analysts.

The falling cost of wind and solar projects combined with advances in battery storage technology will unlock about £20bn of investment in the UK between now and 2030, Aurora Energy Research said. Onshore wind and solar will both be viable without subsidies by 2025 in the UK, it added.

The prediction comes as the Swedish energy firm Vattenfall announced that it had won a Dutch government tender to develop a windfarm which will become the world’s first without subsidies when built off the Netherlands coast in 2022.

“The [subsidy-free] future is within reach,” Magnus Hall, Vattenfall’s chief executive, told an industry audience in Oxford.

But the switch to a post-subsidy world would still require some financial aid during the transition period, Hall said, to ensure that risk was fairly shared between energy firms and governments.

Hall urged ministers to consider reversing the UK’s ban on subsidies for onshore windfarms, saying developers of these projects should be allowed to compete in auctions for subsidies. Continue reading “Subsidy-free renewable energy projects set to soar in UK, analysts say”