REG - Workspace Grp PLC - Workspace to use solar energy to power portfolio

WorkspaceAnnouncement

13/12/2023 07:15

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RNS Number : 5530W  Workspace Group PLC  13 December 2023

13 December 2023

 

Workspace GROUP PLC

 

Workspace harnesses SOLAR ENERGY TO POWER portfolio

 

Workspace Group PLC ("Workspace"), London's leading owner and operator of
sustainable,

flexible work space, today announces it has entered into a Corporate Power
Purchase Agreement ("CPPA") with Statkraft, Europe's largest generator of
renewable energy, to supply around two thirds of the Group's expected
electricity demand for the next 10 years with effect from 1 February 2024.

 

Workspace will take all the electricity generated by a newly constructed solar
plant in Devon, contributing to the UK's clean energy capacity.

 

This agreement marks the first clean energy CPPA made by a London office
provider to date, sourcing electricity directly from a renewable energy
generator. This move further solidifies Workspace's position as a market
leader in providing sustainable work spaces and accelerating the transition to
being net zero carbon by 2030.

 

The agreement will also help Workspace customers in achieving their own
sustainability ambitions by significantly reducing their emissions.

 

Sonal Jain, Head of Sustainability at Workspace Group, said: "Today we have
taken a significant step on our path to net zero carbon by decarbonising
around two thirds of our portfolio's electricity use. The recent agreement at
COP28 for countries to triple their renewable energy capacity by 2030 is
supported by decisions like ours, which enable new capacity on the grid,
rather than simply procuring from the existing supply. This is by far the most
responsible way we can acquire a substantial share of clean green
electricity."

 

Dave Benson, Chief Financial Officer at Workspace, said: "This agreement
clearly demonstrates how our scale as an operator of five million sq. ft. of
work space, our focus on sustainability and our strong financial position have
allowed us to take an important leading step in our industry. The deal
delivers significant value for our stakeholders and underpins the long-term
energy security for the Group and our customers. As companies increasingly
seek work spaces with strong sustainability credentials that run on clean
energy, our switch to even higher quality renewable electricity is both
commercially attractive and sustainable."

 

- ENDS -

 

 

For further information, please contact:

 

 Workspace Group PLC
 Clare Marland, Head of Corporate Communications  020 7138 3300

 FGS Global
 Chris Ryall                                      020 7251 3801
 Guy Lamming

 

Notes to Editors

 

About Workspace Group PLC:

 

Workspace is London's leading owner and operator of flexible workspace,
managing five million sq. ft. of sustainable space with 76 core locations in
London and the South East.

 

We are home to some 4,000 of London's fastest growing and established brands
from a diverse range of sectors. Our purpose, to give businesses the freedom
to grow, is based on the belief that in the right space, teams can achieve
more. That in environments they tailor themselves, free from constraint and
compromise, teams are best able to collaborate, build their culture and
realise their potential.

 

We have a unique combination of a highly effective and scalable operating
platform, a portfolio of distinctive properties, and an ownership model that
allows us to offer true flexibility. We provide customers with blank canvas
space to create a home for their business, alongside leases that give them the
freedom to easily scale up and down within our well-connected, extensive
portfolio.

 

We are inherently sustainable - we invest across the capital, breathing new
life into old buildings and creating hubs of economic activity that help
flatten London's working map. We work closely with our local communities to
ensure we make a positive and lasting environmental and social impact,
creating value over the long term.

 

Workspace was established in 1987, has been listed on the London Stock
Exchange since 1993, is a FTSE 250 listed Real Estate Investment Trust (REIT)
and a member of the European Public Real Estate Association (EPRA).

 

Workspace® is a registered trademark of Workspace Group PLC, London, UK.

LEI: 2138003GUZRFIN3UT430

 

For more information on Workspace, visit www.workspace.co.uk
(http://www.workspace.co.uk)

 

About Statkraft

 

Statkraft is a leading company in hydropower internationally and Europe's
largest generator of renewable energy. The Group produces hydropower, wind
power, solar power, gas-fired power and supplies district heating.

 

Statkraft is a global company in energy market operations. Statkraft has 5,700
employees in 21 countries.

 

 

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