Octopus Energy’s generation arm has inked a new partnership with frozen food retailer Iceland Foods.
The ten-year deal will see green energy supplied to Iceland from the Breach solar farm in Cambridgeshire.
The project is managed by Octopus on behalf of Octopus Renewables Infrastructure Trust.
The solar farm is expected to provide 64GWh of renewable energy every year to power 150 sites – this is predicted to meet 14% of Iceland Food’s electricity needs for its UK stores.
The PPA is also forecasted to reduce the retailer’s emissions by 23,000 tonnes of carbon dioxide, the equivalent of removing more than 12,000 petrol cars from the roads.
Zoisa North-Bond, Chief Executive Officer of Octopus Energy Generation, said: “It’s great to see such a massive British firm like Iceland Foods accelerate its renewable energy journey, freezing its foods with the power of the sun.”
Tarsem Dhaliwal, Chief Executive Officer of Iceland Foods, commented: “This partnership is an exciting step in our journey towards achieving net zero by 2040. It also gives us clarity on our energy costs for the coming years – at a significant discount to the current wholesale price. This helps to mitigate the impact of the volatility that has plagued the industry for the past 12 months.”