DLA Piper advises Canary Wharf Group on landmark 10-year renewable energy power purchase agreement

Global law firm DLA Piper has advised Canary Wharf Group (CWG) on a 10-year Power Purchase Agreement (PPA) with ENGIE, supporting its decarbonisation ambitions while bringing new renewable energy generation onto the grid.

Under the agreement, renewable electricity generated by BSR’s 49.99 MW Knowl Green Solar Park will supply around 40% of CWG’s current electricity demand, equivalent to powering approximately 12,500 UK homes each year, while avoiding an estimated 11,000 tonnes of CO2 emissions annually.

The long-term arrangement provides CWG with access to renewable electricity from a dedicated source while supporting the development of new renewable generation capacity. The transaction also demonstrates the growing role of corporate PPAs in connecting businesses with renewable energy projects and helping to accelerate the transition to a lower-carbon economy.

Natasha Luther-Jones, Partner at DLA Piper comments: “Corporate power purchase agreements are playing an increasingly important role in helping businesses secure long-term access to renewable electricity while supporting investment in new clean energy infrastructure. This transaction demonstrates how organisations can use innovative energy procurement arrangements to advance their sustainability objectives, manage long-term energy needs and contribute to the transition to a lower-carbon economy.”

The DLA Piper team was led by Finance Senior Associate Tom Metcalfe who was supported by Associate Emily Lakeman.