Corporate Power Purchase Agreement CPPA2

Network Rail operates, maintains and develops Britain's rail tracks, signalling, bridges, tunnels, level crossings and many key stations. As a result, Network Rail is one of the largest purchasers of electricity in the United Kingdom with a total consumption of c.4.5 TWh per annum (traction 4.1 TWh and non-traction 0.45 TWh). Her Majesty's Government has made legal commitments to reduce greenhouse gas emissions to net zero by 2050. Network Rail as a government-owned enterprise is committed to support the achievement of this objective. To support the achievement of this objective, Network Rail is initially seeking to procure between 0.5 and 1 TWh per annum of renewable electricity through a physical (corporate) PPA. Network Rail is willing to consider tenors of up to 25 years, and this could be supplied by one or more counterparties, from one or more assets, with delivery of power from in 2026. A tender is expected to launch in early 2023, with a contract value of up to £1.25bn.