Hogan Lovells advises Vodafone on another landmark renewable energy deal
London, 26 April 2023 - Global law firm Hogan Lovells has advised Vodafone on a major renewable energy transaction involving a series of solar power purchase agreements with Centrica Energy Marketing & Trading and Mytilineos for five solar farms in the UK.
The deal gives Vodafone UK access to clean, high-quality and affordable renewable electricity for the next 10 years, offering price certainty and improved energy security. Combined with agreements already in place, the new solar PPAs means around 44% of the company’s annual energy needs will be fulfilled by UK-based renewable power sources by 2025.
The five solar farms, located in Norfolk, Nottinghamshire, Staffordshire, Buckinghamshire and Dorset, will generate a total of 216GWh of electricity every year, displacing more than 53,000 tonnes of CO2e. Construction will begin this year, with energy generation is expected from early 2024.
The Hogan Lovells team was led by infrastructure, energy and projects partner Scott Tindall and senior associate Alex Brightman.
The transaction is the latest in a series of renewable energy and energy transition deals on which Hogan Lovells has advised Vodafone, the most recent of which was a deal last year involving solar power purchase agreements for three more solar farms in Lincolnshire, Worcestershire and Nottinghamshire. Those solar farms are expected to generate more than 100GWh of renewable electricity annually.
Partner Scott Tindall said: “We are delighted to have successfully advised Vodafone on this landmark transaction, which will see a significant proportion of Vodafone’s future power needs being met by UK-based renewable power sources. It’s great to be able to help this important client make another huge step towards achieving its goal to reach net zero UK operations by 2027.”