Workspace has signed a deal to source two-thirds of its energy for the next decade from a new solar array in Devon.
The corporate power purchase agreement with Statkraft, Europe’s largest generator of renewable energy, will start from 1 February.
It is the first clean energy CPPA made by a London office provider to date, sourcing electricity directly from a renewable energy generator.
Workspace chief financial officer Dave Benson said: “This agreement clearly demonstrates how our scale as an operator of 5m sq ft of work space, our focus on sustainability and our strong financial position have allowed us to take an important leading step in our industry.
“The deal delivers significant value for our stakeholders and underpins the long-term energy security for the group and our customers. As companies increasingly seek workspaces with strong sustainability credentials that run on clean energy, our switch to even higher-quality renewable electricity is both commercially attractive and sustainable.”
The flex space provider said the deal would accelerate its transition to net zero carbon by 2030, and help its customers achieve their own sustainability ambitions by significantly reducing their emissions.
Workspace’s head of sustainability, Sonal Jain, added: “The recent agreement at COP28 for countries to triple their renewable energy capacity by 2030 is supported by decisions like ours, which enable new capacity on the grid, rather than simply procuring from the existing supply. This is by far the most responsible way we can acquire a substantial share of clean green electricity.”
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