Carbon removal developer Deep Sky has signed a 10-year Power Purchase Agreement (PPA) with UK-based renewable energy company Low Carbon.
Under the agreement, Low Carbon will provide 10 GWh (gigawatt hours) of renewable energy annually to power operations at Deep Sky’s landmark Alpha facility in Alberta, Canada.
The renewable energy will come from Low Carbon’s Lethbridge 1 solar farm project in Canada.
Equipped with sophisticated technology that enables the solar panels to follow the sun’s movement, the Leftbridge 1 location will produce enough renewable energy to back 100% of the needs at the Alpha facility.
This agreement is yet another success for Low Carbon, and it comes after a ten-year PPA signed with Lloyds Banking Group earlier this year, in which Low Carbon agreed to deliver 50 GWh of renewable energy from two of its UK solar farms.
With the urgent need for climate action in the air, these agreements signal a growing interest by different organizations in obtaining direct contracts with renewable energy providers as part of their climate strategy.
Commenting on this deal, Marco Verspuij, Head of Power Management at Low Carbon, shared that the company is delighted to finalize the agreement with Deep Sky and provide renewable energy for their Alpha project.
He added, “We expect that PPAs will continue to play a major role in helping drive the renewables revolution in the coming years as organizations explore innovative finance options that help reduce emissions from their energy usage and decarbonize the wider economy.”
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On behalf of Deep Sky, CEO Damien Steel said that the company is proud to collaborate with Low Carbon to generate 100% new renewable power for Deep Sky Alpha.
He commented, “Securing renewable power for novel carbon dioxide removal projects is incredibly difficult, and we couldn’t be more excited to have Low Carbon as our partner in Alberta.”
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