Lightsource BP has unveiled a collective purchasing framework so smaller and mid-sized businesses can access clean electricity by aggregating their demand.
The solar developer and operator is inviting businesses to join a European multi-buyer corporate power purchase agreement (PPA) for a portfolio of solar assets due to begin construction in Spain in 2024.
Buyers with lower electricity demand can face challenges in securing long-term renewable power contracts due their reduced annual energy consumption.
To address this, Lightsource BP has introduced a collective PPA framework designed to aggregate the demand of firms with smaller energy needs.
This initiative uses the company’s extensive experience in providing bespoke agreements, effectively enabling these smaller firms to overcome the hurdles of price volatility while contributing to climate change mitigation.
This model not only simplifies access to renewable energy for these users but also supports the development of new solar capacity, Lightsource BP stated.
“This an exciting opportunity to spread the benefits of solar to a wider group of beneficiaries,” said the company’s director of power markets Zosia Riesner.
She added: “We’ve seen some of the world’s largest businesses using PPAs to benefit from the affordable and predictable pricing of renewables while supporting the energy transition’s continuing momentum.
“Our collective PPA approach can share those benefits to companies with far lower energy usage while enjoying the scale delivered by a solar portfolio from our 1GW pipeline in late stage of development in Spain.”