Canary Wharf Group (CWG) has partnered with ENGIE in the UK and British Solar Renewables (BSR) for a 10-year power purchase agreement (PPA) – one of the largest agreements of its kind for a major UK mixed-use district.
Under the agreement, ENGIE will manage and structure the supply of renewable electricity generated by Knowl Green, a 50MW UK solar farm developed and owned by BSR. This will enable CWG to benefit from long-term price certainty, helping to reduce exposure to market volatility while increasing its supply of low-carbon electricity and supporting the decarbonisation of one of London’s leading commercial districts.
The PPA strengthens CWG’s long-term energy strategy by providing a reliable supply of renewable power in alignment with industry-recognised decarbonisation approaches. The agreement is expected to supply approximately 40% of CWG’s current electricity consumption.
The PPA is part of a phased and resilient approach for CWG’s customers. It builds on CWG’s approach to turn sustainability ambition into action. CWG has already reduced its emissions by 69% across Scope 1, 2 and 3 emissions from downstream leased assets from a 2017 baseline, which is part of a wider programme of activities.
The agreement underpins the development and long-term operation of a new UK solar project by BSR, contributing to the growth of local renewable generation capacity.
By facilitating direct offtake from renewable assets, ENGIE is expanding its upstream renewable portfolio, strengthening its position in the UK flexibility and energy management market, and accelerating the deployment of low-carbon infrastructure. This structure has already been applied across a range of commercial customers and asset types, with ENGIE delivering market-leading risk management services that create value for both generators and end users.
Sophie Goddard, Managing Director – ESG at CWG, said, “This agreement is a significant step forward, accelerating clean energy generation whilst delivering price certainty and strengthening the resilience of our energy strategy for our customers.”
Tim Humpage, CEO of British Solar Renewables, said, “Knowl Green is exactly the kind of project we want to be delivering. Securing a long-term PPA with ENGIE gives it a strong foundation, while allowing us to retain ownership and build out our portfolio as an independent power producer. Connecting that generation directly to demand at Canary Wharf is where we see real progress.”
Nathalie Morichon, UK Managing Director – Energy Management at ENGIE, said, “This agreement demonstrates how ENGIE can support large-scale commercial customers – like the iconic Canary Wharf, to decarbonise through innovative energy solutions. By structuring and delivering this long-term renewable PPA, we are enabling CWG to access low-carbon electricity at scale while also supporting the development of new solar capacity across the UK.”
The solar development has full planning consent and grid connection in place. Once operational, Knowl Green is expected to generate approximately 54GWh of clean electricity each year, enough to power around 12,500 UK homes. The project is also expected to avoid around 11,000 tonnes of CO₂ emissions annually.
