Co-op Power has partnered with Zeigo to tender an annual demand of 100 gigawatt hours of renewable energy for a power purchase agreement (PPA).
As part of this structure, which is first of its kind in the UK, the Co-op will be the anchor tenant, off-taking majority of the volume.
This will help open this avenue to businesses that otherwise might not have the energy requirements to do this on their own, into impactful, traceable renewable energy agreements directly with generators.
Zeigo has built an aggregated PPA platform which facilitates the grouping of corporations looking to aggregate energy demand and form buying groups to sign a PPA, directly contributing towards a cleaner energy grid.
The Co-op already buys energy directly from seven onshore wind and solar projects under long-term PPAs.
Michael Mahoney, energy procurement manager at Co-op Power, said: “It is vital that we continue to work with other businesses to reduce costs and reduce carbon, we know from discussions with our own supply chain that 60% believe they don’t have the resource to reach net zero alone.
“Combining buying power to demand better value has always been at the heart of the Co-op movement.
“So, we’re pleased to be bringing our customer with us onto Zeigo’s platform for this joint PPA, which will help us to tackle our Scope 3 emissions and achieve Net Zero.”