EY has announced a 10-year carbon Power Purchase Agreement (PPA), its first ever, in the UK.
The accountancy firm’s new commitment will contribute to a Norfolk-based solar power station project realised and commercially viable by providing certainty of revenue at a fixed price for 10 years.
As part of the PPA’s terms, the solar power station’s renewable energy will mean that nearly 100% of all electricity the firm purchases directly from energy providers will be counted as zero-carbon solar power.
Of the total 21.3 GigaWatt hours (GWh) of energy set to be generated by the facility, EY will use 13GWh, with the remaining 40% of energy generated being sold to market.
The project will also involve the planting of hedgerows and trees, as well as the inclusion of birdhouses, to ensure the area’s biodiversity.
Hywel Ball, EY’s UK chair said: “Sustainability is one of the most significant and generation defining issues that the world faces today and it’s important that all businesses play their part in tackling these challenges.
“As a firm we have been using renewable energy for a number of years, including purchasing electricity via renewable tariffs since 2009 and switching to 100% certified biogas in 2019.”
He added: “This latest initiative means we will be making an even bigger impact, ensuring that the majority of the energy EY uses in the UK continues to be zero carbon, and generating a significant surplus of green energy that will be fed back into the grid to support EY’s overall global net-zero objectives.”