Property giant signs two-year renewable power contract with Total Gas and Power worth over £75m
Real estate giant Knight Frank has this week announced a new contract with Total Gas and Power, which will see it purchase 100 per cent renewable electricity for its properties under its management.
The contract runs through to 2021 and is expected to result in Knight Frank buying more than 360GWH of renewable power, at a cost of over £75m.
The company said the deal would lead to a reduction in carbon emissions of 100,000 tonnes by 2021, the equivalent to taking nearly 17,000 cars off the road.
“Alongside our initiatives to drive energy and resource efficiency in the buildings that we manage, procuring our power from renewable sources is a visible and meaningful commitment to responsible property asset management,” said David Goatman, partner and head of energy and sustainability EMEA at Knight Frank.
The move is the latest in a long line of commitments from leading corporates to source 100 per cent renewable power, either through supply contracts or direct investment in clean energy projects.
The RE100 initiative, which encourages firms to publicly commit to sourcing 100 per cent renewable power, says that it now boasts over 175 members that have jointly committed to sourcing renewable power equivalent to the electricity demand of Egypt or Poland.
Among the latest firms to join the initiative is retail giant Next, which already sources 100 per cent renewable electricity for its UK and Eire operations, accounting for 95 per cent of its global energy use. With RE100 it has pledged to convert the remaining 5 per cent of its operation to clean energy, consisting predominantly of manufacturing operations in Sri Lanka.