Burges Salmon advises BayWa r.e. on corporate PPA with Tesco
Firm advises leading global renewable energy developer BayWa r.e. on its long term corporate Power Purchase Agreement with Tesco plc for a new wind farm at Inverclyde, Scotland
Under the sleeved corporate PPA, Tesco will purchase 100% of the electricity generated by the wind farm at a long term fixed price. The PPA has been signed as part of a wider programme of investment by Tesco to meet its commitment to source 100% of electricity across the Tesco Group from renewable sources by 2030.
Ross Fairley, Head of Renewables at Burges Salmon says: “We are pleased to have helped BayWa r.e. put this corporate PPA in place. The team here has been specialising in these types of arrangements for developers and corporates for over a decade and there is no doubt we are seeing an increasing uptake in them. With the drive to Net Zero we predict many more to come.”
Gordon MacDougall, Managing Director, BayWa r.e. UK Limited, adds: “We were delighted to work with Burges Salmon again on this corporate PPA. We chose them for their track record in corporate PPAs and the Energy team’s in-depth knowledge of the UK market. It enabled the BayWa r.e. team to devise practical solutions that worked for all parties.”
Ross Fairley and associate Daniel Ballard advised the wind farm project vehicle Inverclyde Renewables LLP throughout the process.
BayWa r.e.is a leading global renewable energy developer, service supplier, wholesaler and energy solutions provider. In the UK, BayWa r.e. has over 2 GW of wind and solar assets under management, and a pipeline of over 350 MW under development