(Alliance News) - Workspace Group PLC on Wednesday said it agreed a deal with renewable energy generator Statkraft AS to supply around two thirds of its expected electricity demand with solar energy.

The flexible workspace provider said the deal was for the next 10 years, effective from February 1, taking all the electricity generated by a newly constructed solar plant in Devon and contributing to the UK's clean energy capacity.

Workspace said the deal marks the first clean energy corporate power purchase agreement made by a London office provider to date, sourcing electricity directly from a renewable energy generator.

No financial details were provided.

The move further 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", Workspace said, alongside helping Workspace customers towards their own sustainability ambitions by "significantly" reducing their emissions.

"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," said Head of Sustainability Sonal Jain.

Chief Financial Officer Dave Benson said: "This agreement clearly demonstrates how our scale as an operator of five million [square feet] 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."

Shares in Workspace were down 0.1% to 523.00 pence each in London on Wednesday morning.

By Greg Rosenvinge, Alliance News senior reporter

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