A LANDMARK 15-year Virtual Power Purchase Agreement with Shawton Energy will see the development of an 8.6MWp, 28-acre solar farm in Pembrokeshire. Point Lane Solar Farm’s 14,000 solar panels will supply approximately 40 per cent of London’s King’s Cross estate’s electricity demand.

Shawton Energy, which is 50 per cent owned by global firm Lazard Asset Management, acquired the Point Lane Solar Farm at Cosheston, near Pembroke Dock, earlier this year following planning approval in 2023. The company will develop, deliver, own and operate the facility, delivering long-term decarbonised energy to King’s Cross under the agreement.

The deal with Shawton Energy will displace approximately 2,100 tonnes of Co2 emissions each year. It’s a significant step in King’s Cross’s journey to becoming a net zero carbon estate by 2035. The 67-acre neighbourhood, where more than 41,000 people live, work and study, has developed a detailed strategy to achieve net zero carbon through reducing operational and embodied carbon, decarbonising the Energy Centre, procuring renewable energy sources, and offsetting residual emissions.

Jamie Shaw, CEO of Shawton Energy, said:

“This partnership with King’s Cross is a great example of how forward-thinking real estate portfolios can accelerate their journey to becoming net zero carbon.

“The Point Lane Solar Farm reflects our mission to deliver long-term, low-cost renewable energy for businesses, particularly those in dense city locations where on-site generation isn’t an option. It also highlights the growing corporate demand for long-term, low-cost renewable power as businesses seek to reduce exposure to volatile energy markets and meet decarbonisation targets.

“We’re committed to unlocking access to clean energy at scale, working closely with forward-thinking estates like King’s Cross to decarbonise, cut energy costs, and advance their journey to net zero. This exemplar project will provide a blueprint for other businesses to show what’s possible.”