Centrica Energy Trading has signed a new power purchase agreement (PPA) with German airport operator Fraport. In accordance with the agreement, Centrica will begin providing Frankfurt Airport’s aviation centre with approximately 63 GWh of renewable energy in July 2023. The agreement will initially be in effect for five years. The recently completed 22 MW wind farm on the German mainland at Bremerhaven on the North Sea coast will provide clean electricity. Reportedly, Fraport signed its first PPA with Centrica in 2021, marking the airport operator’s debut wind energy purchase.
Centrica is a leading energy services and solutions company focused on helping our customers live sustainably, simply, and affordably. The company supplies energy and services to over 10 million residential and business customers, and at a global level, it has more than 20,000 employees. Centrica Energy Trading is one of the five main businesses within Centrica plc; British Gas; Board Gais; Centrica Business Solutions; and Upstream.
In March 2023, Lhyfe and Centrica agreed to jointly develop offshore renewable green hydrogen in the UK, a first for the country. The companies signed a memorandum of understanding that could accelerate green hydrogen as part of the energy transition in the UK. Under the agreement, Lhyfe and Centrica would combine their expertise to collaborate on a pilot green hydrogen production site in the southern North Sea.
REGlobal’s Views: Corporate procurement of renewable power is gaining traction as companies move towards greener strategies to reduce energy bills and attract consumer as well as investor interest. For airport operators particularly, which have huge energy requirements for running massive airport operations, renewable energy is increasingly becoming highly attractive especially with the current energy crisis and rising energy prices.
