A group of 20 UK universities has agreed a £50m deal to purchase renewable energy over a 10-year period through the Energy Consortium (TEC). TEC will supply renewable power to universities including Newcastle, Exeter and Aberystwyth as part of a 10-year, fixed-price, power purchase agreement (PPA). The PPA has been structured with Renewable Energy Guarantees of Origin (REGOs) from British windfarms. “The corporate PPA market has long been touted as a means for larger organisations to procure renewable power and enable subsidy-free development,” TEC’s managing director Richard Murphy said. “But to date, it has largely been the preserve of very large companies, requiring substantial commitments from buyers.
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