City of London Corporation launches tender for 55 GWh solar PPA

The City of London Corporation has launched a tender to purchase up to 55 GWh of renewable energy under an off-site power purchase agreement (PPA).

The project, or portfolio of projects, should not be fully operational before the PPA is signed, expected to by the second quarter of 2020 and must be located in Great Britain (i.e. excluding Northern Ireland) and should expect to deliver through the PPA on average 35-55 GWh per annum.

The contract structure will be a ‘pay-as-produced’ sleeved (‘physical’) PPA with an availability guarantee provided by the developer, for the supply of onshore wind power or solar power only, with an existing utility supplier providing the sleeving services (The Sleeving Supplier).

The City will acquire the exclusive right to the power and the associated environmental attributes (including Renewable Energy Guarantees of Origin (‘REGOs’)) under the PPA, which should be included in the price offered by the Developer. The sleeving supplier will facilitate (or ‘sleeve’) the supply of such power and associated environmental attributes from the renewable energy project to the City pursuant to the terms of the sleeving PPA entered into between the City and the sleeving supplier.

The contract of the PPA will be up to 15 years and is expected to start on April 1, 2021, while the commercial operations date (COD) longstop date will be on March 21, 2023. 

The deadline for the acceptance of the tender documents is on January 20, 2020. 

Tender documents can be accessed here.