Innova JV Signs 15-Year Solar PPA with Anglian Water

• Innova teams up with Anglian Water, powering a sustainable future with a 27.8-MW solar project set to boost renewable energy and support net-zero goals by 2030!

Innova, a British renewable energy company, announced a 15-year corporate power purchase agreement (PPA) with Anglian Water for a 27.8-MW solar project. The deal, finalized through Innova’s joint venture with Schroders Greencoat LLP, ensures that Anglian Water will receive the entire output of the Elms Farm photovoltaic park, projected to produce around 29,000 MWh annually.

The Elms Farm solar park is currently under construction and is expected to start operations later this year. Innova highlighted that the PPA was crucial for the project to secure financial backing and commence construction, contributing to Anglian Water’s renewable energy goals and its pledge to reach net-zero emissions by 2030.

How will the PPA support Anglian Water's renewable energy and net-zero goals?

• Alignment with Net-Zero Emissions Commitment: The PPA represents a significant step toward Anglian Water's objective of achieving net-zero emissions by 2030. By sourcing renewable energy through the solar project, the company can effectively reduce its carbon footprint and contribute to broader climate action initiatives.
• Increased Renewable Energy Portfolio: The agreement enables Anglian Water to effectively diversify its energy portfolio by integrating solar energy, a crucial component of sustainable energy solutions. This move not only enhances their renewable energy capacity but also stabilizes energy costs in the long run.
• Long-Term Energy Security: With a 15-year PPA, Anglian Water secures a reliable source of energy at a fixed price, shielding it from market fluctuations and fostering energy independence. This stability is essential for long-term financial planning and operational efficiency.
• Local Economic Support: The Elms Farm solar park project involves local workforce engagement and supply chain development, thereby contributing to the regional economy. By investing in local renewable projects, Anglian Water supports community job creation and sustainable economic growth.
• Contribution to National Renewable Targets: By collaborating with Innova on this solar project, Anglian Water aligns its operations with national and regional renewable energy targets, reinforcing the UK’s commitment to increasing the share of renewable energy in its overall energy mix.
• Enhanced Corporate Responsibility Image: The commitment to renewable energy through this PPA enhances Anglian Water's reputation as a sustainable business, potentially attracting environmentally-conscious consumers, investors, and partners who prioritize corporate responsibility.
• Promotion of Technological Innovation: The partnership could foster innovations in energy efficiency and sustainable practices, encouraging the development of new technologies and methodologies that complement Anglian Water's operational goals and sustainability agenda.
• Support for Future Renewable Initiatives: The successful establishment of the Elms Farm solar park and the financial backing provided by the PPA may open doors for future renewable energy projects, allowing Anglian Water to expand its sustainability initiatives and further lessen its environmental impact.
• Leadership in the Water Sector: By taking proactive steps towards renewable energy usage, Anglian Water positions itself as a leader within the water utilities sector, inspiring other organizations to follow suit and adopt similar strategies for sustainability and environmental stewardship.
• Contribution to Climate Change Mitigation: By investing in solar energy through the PPA, Anglian Water plays a role in the mitigation of climate change effects, supporting efforts to transition away from fossil fuels and towards a sustainable energy future.