Centrica signs renewables contract with Macquarie, Novera

Centrica PLC has signed a long-term power purchase agreement with NM Renewable Energy, a joint venture between Macquarie Bank and Novera Energy, which will deliver approximately 300GWh of ‘green’ electricity to British Gas customers every year – enough to supply around 60,000 homes.

The agreement Centrica has entered into, commencing in April 2005, will run for more than 10 years, meeting approximately 5% of Centrica’s rising renewables obligation. Electricity supplied to British Gas customers will be delivered from a diverse range of renewable sources, including hydro-electric, landfill gas and an onshore wind farm.