Thames Water and Haven Power in $800 million renewable energy deal

• 9 years ago (2015-05-26)

Europe 1068 Renewables 757

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Haven Power currently supplies electricity to businesses and sources its power from Drax's 4 GW power plant in Yorkshire, which is undergoing a major transformation programme converting from coal to sustainable biomass.

The deal will allow Thames Water, which already sources about 20 per cent of its electricity needs through self-generated renewables such as solar, wind, hydro and biogas, to meet all of its electricity needs from renewables.

The deal has an option for two further five-year renewals, which could increase the overall value of the contract to more than £1.5 billion ($2.31 billion) over 15 years.

Dorothy Thompson, the Chief Executive of the Drax Group, said: “ I'm delighted that Drax and Haven will play such an important part in helping to deliver Thames’ renewable objectives. As the UK looks to decarbonise in an affordable and pragmatic way, it is pioneering companies like Thames that are leading the way. "