Electricity Power Purchase Agreement

Description

The University of Manchester (UoM) is a public research university located in Manchester. The main campus is south of Manchester City Centre on Oxford Road, the North Campus is located on Sackville Street and the Fallowfield campus is the main residential campus located approximately 2 miles from the main site. UoM is a member of the Russell Group and with present levels of students and staff has the fourth highest number of any single university in the UK. In 2020/21, the university had a consolidated income of £1.1 billion, of which £237 million was from research grants and contracts. The UoM has a total electricity consumption of c. 100 GWh per annum and through it's Carbon Reduction Masterplan aims to decarbonise its electricity consumption by directly purchasing renewable energy from specific renewable energy (wind and/or solar) projects thus supporting the development of additional renewable energy generation in Great Britain. UoM is seeking to secure a Corporate Power Purchase Agreement (CPPA) with a renewable energy generator for 50 GWh-60 GWh per annum. Total contract value is circa GBP 50 million-GBP 60 million over 10 years Lot 1: The University of Manchester (UoM) intends to transform its electricity consumption to 100 % renewable energy whilst supporting the development of additional renewable energy generation in Great Britain. UoM intends to: (a) procure a CPPA with a renewable energy (wind and/or solar) generator to deliver 50 GWh-60 GWh of power per annum; (b) ensure that the renewable energy CPPA satisfies the 'Additionality' criteria as set out by the Department for Environment, Food and Rural Affairs. Therefore, the project(s) must be prior to renewable generation construction and UoM's offtake will need to substantively contribute to the project(s) securing final investment decision and/or financial close.