Thames tenders for green power supply deals

Thames Water is tendering for three- to ten-year power purchase agreements with wind or solar photovoltaic power generators worth up to £200m.

The water company said it is looking to “diversify its electricity portfolio through corporate Power Purchase Agreements (PPAs)”. It described its objective as “long-term price certainty while supporting decarbonisation targets through a competitive tender process.”

Thames said its “primary target” was to procure 100-150GWh a year of renewable energy through this tender, with the possibility of increasing the annual volume to 200 GWh “if commercially compelling offer(s) are received.”

The company said each contract should be a minimum of 20GWh a year and a maximum of 150GWh a year. It was, it said, open to “newbuild and operational projects, provided that newbuild projects have, or will obtain, all necessary permits and consents.” The company said it aims to start procuring volumes “as soon as possible,” preferring start dates within the next 18 months, but will consider projects with commercial operation dates before April 2026.

Thames Water said it prefers five-year contracts, although terms ranging three to ten years “will be considered”.