AEG Signs Landmark Deal to Run U.K. Venues on 'Deep Green Energy'
LONDON - AEG Europe announced a groundbreaking agreement on Tuesday (Oct. 7) that will make its U.K. venues the first in the country to run entirely on renewable energy, marking a significant milestone in the global push for sustainability.
Under the landmark deal with green energy company Ecotricity, AEG's U.K. venues - including The O2 in London, indigo at The O2, Eventim Apollo, Watford Colosseum and University of Wolverhampton at The Halls - will operate predominantly on 100% renewable energy generated by solar and hydro assets.
"This is a major step forward for the live entertainment industry," said Tim Healy, CEO of AEG Europe. "We're proud to be leading the way in sustainability and setting a new standard for our sector."
The agreement includes Power Purchase Agreements (PPAs) with Ecotricity, which will allocate specific renewable energy assets to AEG's U.K. venues. The PPAs are widely recognized as the gold standard in energy procurement.
"AEG is committed to reducing its carbon footprint and this deal demonstrates that commitment," said Healy. "We're excited to be working with Ecotricity on this project and look forward to seeing the positive impact it will have on our business and the environment."
The move comes as the global live entertainment industry faces increasing pressure to reduce its environmental impact. The U.K. government has set ambitious targets for reducing carbon emissions, and companies like AEG are responding by investing in renewable energy.
"AEG's commitment to sustainability is a welcome development," said a spokesperson for the U.K. Government. "We're pleased to see businesses taking proactive steps to reduce their carbon footprint and contribute to our national goal of net-zero emissions."
The agreement also highlights the growing importance of green energy in the entertainment industry. As consumers become increasingly environmentally conscious, venues are under pressure to demonstrate their commitment to sustainability.
"AEG's deal with Ecotricity is a significant development for the live music industry," said a spokesperson for the International Live Events Association (ILEA). "It sets a new standard for sustainability and demonstrates that companies can make a positive impact on the environment while also reducing costs."
The agreement will come into effect in January 2023, with AEG's U.K. venues expected to be fully powered by renewable energy by the end of the year.
As the global live entertainment industry continues to evolve, AEG's landmark deal is likely to have a lasting impact on the sector. With its commitment to sustainability and investment in renewable energy, AEG is setting a new standard for businesses around the world.
In related news, The O2's Steve Sayer recently spoke about running a global-leading venue, setting green standards, and the BRITs moving to Manchester.
*Reporting by Billboard.*
