Centrica, an energy, services, and solutions company, has announced a new green-focused investment strategy aimed at reaching net zero emissions. The company plans to invest up to £4 billion over the next five years in renewables, flexibility, and its customers to help achieve this goal. Centrica believes that collaboration between politicians, businesses, experts, and households is crucial in addressing the challenge of reaching net zero emissions. With its unique positioning across the entire energy industry, Centrica aims to play a significant role in the transition to a sustainable future.
In terms of energy security, Centrica has signed a long-term Sale and Purchase Agreement with Delfin Midstream Inc. for 1.0 million tonnes per annum of Liquefied Natural Gas (LNG) for 15 years. Starting in 2027, Centrica will receive approximately 14 LNG cargoes per year, which could provide enough energy to heat one in 20 UK homes for 15 years. This $8 billion deal is part of Centrica's efforts to enhance the UK's energy security.
Additionally, Centrica has entered into a two-year renewable energy Power Purchase Agreement (PPA) with Deutsche Bahn, Germany's national railway company. Under this agreement, Centrica Energy will provide approximately 70GWh of renewable electricity annually to Deutsche Bahn from three wind farms in Germany developed by Prokon AG. This partnership will contribute to bringing more renewables online and supporting climate-neutral rail.
Centrica has also highlighted its Net Zero Heroes, the individuals at the forefront of the energy transition who are playing crucial roles in making net zero a reality. These individuals are driving innovation and sustainability within the company and the wider industry.
Overall, Centrica's new green-focused investment strategy, long-term LNG deal with Delfin, and renewable energy PPA with Deutsche Bahn demonstrate the company's commitment to sustainability and its efforts to contribute to a low-carbon energy future.