Gazprom Energy buys into huge solar deal

Gazprom Energy has signed a contract to buy 40MW of solar power annually. Under a 15-year deal, the Russian company will purchase renewable electricity from four sites owned by Canadian Solar. […]

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By Jacqueline Echevarria

Gazprom Energy has signed a contract to buy 40MW of solar power annually.

Under a 15-year deal, the Russian company will purchase renewable electricity from four sites owned by Canadian Solar. It is expected that up to 600MW of renewable electricity will be traded between the two companies.

The agreement will also give the firm the Renewables Obligation Certificates associated with the electricity purchased.

It will help the business energy provider fulfil its requirement as an electricity supplier under the government’s Renewable Obligation scheme.

Andrew Morris, Manager of Clean Energy at Gazprom Energy said: “We are pleased to keep growing our UK power portfolio and are always looking ahead for more innovative structures.”