SSE Energy Solutions has announced a new corporate power purchase agreement (CPPA) with Lloyds Banking Group, helping one of the UK’s leading financial institutions advance its goal of net zero operations by 2030.
Under the terms of the agreement, Lloyds will source renewable energy directly from two onshore wind farms: SSE’s Keadby site in North Lincolnshire and the Gordonbush wind farm in the Scottish Highlands.
The agreement will meet approximately 25% of Lloyds Banking Group’s electricity needs over the next three years, supporting the bank’s sustainability strategy while enabling it to integrate the CPPA with an existing SSE supply contract and another external agreement.
This flexible arrangement reflects an emerging trend in the renewable energy market, where bespoke CPPAs are allowing companies with diverse energy requirements to secure green energy at competitive terms.
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