AGR Power Secures Landmark vPPA with Manchester City Council
Deal News | Dec 02, 2024 | TLT
National law firm TLT has successfully advised AGR Power, a renewable energy and sustainable agriculture developer, in securing a transformative 15-year virtual Power Purchase Agreement (vPPA) with Manchester City Council. This strategic agreement reflects TLT's impactful involvement in aiding the decarbonisation efforts of Manchester, the UK's second-largest city, and signifies a critical development in the realm of corporate PPAs and the clean energy sector. The vPPA will facilitate the generation of 35 GWh of electricity annually from AGR's forthcoming Bicker Fen solar farm, set to commence commercial operations by Q2 2025, thus covering the majority of Manchester Council's electricity demands. Moreover, the agreement promises extensive support for local Manchester communities, including collaborations with the charity We Love MCR. Managed under the leadership of TLT's partner Michael Kruger, the deal exemplifies the synergy between privately-owned renewable companies and local authorities, aimed at achieving shared environmental and societal goals. AGR Power’s director, Oliver Breidt, lauded TLT's expertise in PPA nuances and the clean energy sector as instrumental in navigating the complexities of this agreement. Concurrently, TLT's commitment to sustainability is exemplified by their inclusion in the Legal 500 2025 Green Guide ranking and the acknowledgment of Maria Connolly as a Green Ambassador, marking a significant milestone in their future energy capabilities.
Sectors
- Renewable Energy
- Legal Services
- Public Sector
Geography
- United Kingdom – The vPPA involves AGR Power, TLT, and Manchester City Council, all based in the UK.
- Manchester – The agreement highlights Manchester's efforts towards decarbonisation and the transition to renewable energy.
Industry
- Renewable Energy – The article discusses AGR Power's commitment to generating renewable energy through a solar farm, directly impacting energy transition efforts.
- Legal Services – TLT, a national law firm, played a crucial advisory role in facilitating the vPPA agreement, showcasing the legal industry's involvement in sustainability.
- Public Sector – Manchester City Council, a local authority, participated in the vPPA, emphasizing the public sector's role in transitioning to renewable energy.
Financials
- 35 GWh annually – The amount of electricity to be generated by AGR's solar farm under the vPPA.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| AGR Power | Target Company | Company | A developer of renewable energy and sustainable agriculture securing a vPPA with Manchester City Council. |
| Manchester City Council | Key Participant | Government | Local authority entering into a vPPA with AGR Power to reduce greenhouse gas emissions and stabilize electricity costs. |
| TLT | Legal Advisor | Company | A national law firm advising AGR Power on the vPPA with Manchester City Council, highlighting their expertise in the clean energy sector. |
| Michael Kruger | Advisor | Person | Partner in TLT, leading the team advising AGR Power on the vPPA. |
| Oliver Breidt | Director | Person | Founder and director of AGR Power, involved in the negotiation and execution of the vPPA. |
| We Love MCR Charity | Community Partner | Charity | A local charity in Manchester that will be supported as part of the vPPA agreement. |