Power purchase agreements: Nissan
Many corporations across the globe are looking to source their power consumption needs from renewable energy production facilities, not only because it is more environmentally friendly than traditional fossil fuels, but mostly because of the economic benefits. The arrangement between corporates and renewable energy producers to supply electricity are formalized in agreements known as Power Purchase Agreements. While these agreements are not a new phenomenon, the size and frequency of deals has picked up in recent years.
European Energy is proud to provide these services to a number of corporates who have chosen to source their green power from one of our parks. A recent example is the Japanese car manufacturer Nissan. Their electrical powered vehicle, the Nissan Leaf, is manufactured at their factory in Sunderland, UK.
European Energy was approached by Nissan to construct a solar park in the centre of their test track, adjacent to their factory in 2015, with the aim of producing sufficient energy to run the entire production through a renewable resource. The park is now fully operational and successfully supplies Nissans production facilities with green power.