Conrad Energy and BNP Paribas have signed a 15-year power purchase agreement (PPA) for the energy from Conrad Energy’s newest solar farm, the 45MW Larport farm in Herefordshire.
“We have been excited at Conrad Energy about the potential for the Larport Solar Farm since 2019. To secure this kind of agreement with a partner as dedicated to the transition to net zero as BNP Paribas supports our belief that the upcoming milestones for periods of zero carbon electricity are achievable.” said Steven Hardman, Conrad Energy’s chief executive.
BNP Paribas, the eurozone’s largest bank, is a founding member of the Net-Zero Banking Alliance, launched by the UN Environment Programme Finance Initiative with the aim of mobilising the financial sector to support the transition to more sustainable economies. has already made a major pivot towards financing low-carbon energies. It says that by the end of September 2022, financing of low-carbon energy production was already nearly 20% higher than financing for the production of fossil fuels. By 2030 it expects over 80% of its energy financing activities to be in low-carbon technologies.
“We are excited to be working in partnership with Conrad Energy to deliver this corporate PPA. The energy from Larport is a key step in decarbonising our UK operations; with this agreement in place we have taken a significant step on our path to net-zero banking.” said Emmanuelle Bury, UK Country Head, BNP Paribas.