Bristol Airport and leading renewable energy developer Luminous Energy have entered into a groundbreaking 10-year virtual Corporate Power Purchase Agreement (CPPA). This innovative arrangement offers Bristol Airport price certainty for a significant portion of its energy needs while ensuring the generation of clean energy through Renewable Energy Guarantee of Origin (REGO) certificates.
The agreement reflects Bristol Airport’s commitment to sustainability and its goal of reducing carbon emissions, aligning with its net zero commitments. The renewable energy will be sourced from a solar farm in England, making it the first project to combine a government Contract for Difference (CfD) arrangement with a long-term corporate Power Purchase Agreement. This ensures revenue certainty for the solar farm for up to 15 years, facilitating the deployment of new renewable energy capacity.
Andrew Griffiths, Finance Director of Bristol Airport, expressed enthusiasm about the collaboration with Luminous Energy, emphasizing renewable energy as a focal point within their sustainability strategy. The initiative aims to meet the airport’s electricity needs from renewable sources, contributing to their target of achieving net zero airport operations by 2030.
Guy Lavarack, Chief Investment Officer at Luminous Energy, highlighted the significance of combining long-term power contracts to underwrite renewable energy capacity. He emphasized the agreement’s role in transitioning to an independent power producer and supporting global efforts to combat climate change by expanding low carbon generation capacity.
Natasha Luther Jones, Global Co-Chair of Energy and Natural Resources at DLA Piper, commended the innovative CPPA and the collaboration between Luminous Energy and Bristol Airport. DLA Piper, serving as Luminous Energy’s legal advisor, played a crucial role in ensuring the future supply of renewable energy to support the airport’s sustainability goals.
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 with renewable energy developer Luminous Energy. This innovative agreement ensures price certainty for a significant portion of the airport's energy needs while supporting its net zero emissions goals. The partnership marks a milestone in combining government CfD arrangements with long-term corporate PPAs, driving the deployment of new renewable energy capacity.){kind=link}