Transport for London has launched a tender to procure 150-200 gigawatt hours of renewable energy per annum for the London Underground network over a 15-year term.
The transport authority aims to sign the power purchase agreement (PPA) with new build wind and solar projects no earlier than 1 June 2024 and no later than 30 June 2026.
The contract structure will be modelled as a pay-as-produced ‘sleeved’ PPA, with the electricity directed to TfL’s existing utility supplier.
TfL is asking potential applicants to complete a standard selection questionnaire and upload their responses by 25 July.
The Greater London Authority Group meanwhile intends to make a tranche of long-term asset financing available to bidders for the TfL PPA, subject to due diligence.
The tender document states that no preference will be given in the evaluation of PPA bids to applicants who take up this offer.
Lilli Matson, Chief Safety, Health and Environment Officer at TfL, said: ”As one of the largest electricity consumers in the UK, we are absolutely committed to doing what we can to decarbonise London through clean, renewable energy.
“TfL is already a world leader in many environmental initiatives, and we are pleased to have now started procurement on our first Power Purchase Agreement which forms the next major step in our quest to make all our services powered via renewable electricity by 2030.
“Once in place, approximately 10% of our required electricity will come from renewable energy sources, delivered by ‘new build assets’. These will support the wider UK economy by creating green jobs in construction and operation.”