New joint venture targets community renewable energy projects

Co-op Community Energy has already secured five power purchase agreements with hydropower sites operated by the National Trust across Wales

A new joint venture focused solely on supporting community renewable energy projects across the UK has been launched.

Midcounties Co-operative and Octopus Energy have partnered to launch Co-op Community Energy, which has already secured five power purchase agreements (PPAs) with hydropower sites operated by the National Trust across Wales.

That takes the number of sites supplying renewable energy to Co-op Energy customers to 79.

Tom Hoines, Managing Director of Co-op Community Energy said: “The creation of Co-op Community Energy is a ground-breaking step in driving forward community generation in the UK.

“In a subsidy-free environment, it is crucial that community groups are given support in finding opportunities to develop and grow projects and that they have confidence that energy suppliers will pay a fair price for the power they generate.

“My priority in the coming weeks will be to travel around the country, meeting with community groups to understand in even more depth the challenges they face today and how Co-op Community Energy can best support them.”

Greg Jackson, CEO of Octopus Energy added: “The launch of this joint venture is part of the most exciting change in UK energy infrastructure. By funding and using local renewable power from the community, for the community, when the sun shines, the wind blows and rivers run, we can take the pressure off the national grid and save the world from even more fossil fuels.

“These brand new community energy projects we are working with across the UK are a small step to decarbonising our planet, decentralising our grid and sourcing power locally and we can’t wait to get more signed up.”

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