NewRiver REIT PLC is a real estate investment trust based in the United Kingdom that specializes in the retail sector. The company has a portfolio of over 30 shopping centers, retail parks, and leisure destinations across the UK, with a focus on convenience and community-based retail. NewRiver REIT PLC has a market capitalization of over £500 million and is listed on the London Stock Exchange.

In recent years, NewRiver REIT PLC has been actively pursuing decarbonisation and renewable energy initiatives across its portfolio. The company recognizes the importance of reducing its carbon footprint and mitigating the impact of climate change on its business operations. As such, it has implemented a range of measures to reduce its energy consumption, increase energy efficiency, and transition to renewable energy sources.

One of the key initiatives that NewRiver REIT PLC has undertaken is the implementation of corporate power purchase agreements (PPAs). A corporate PPA is a long-term contract between a company and a renewable energy generator, where the company agrees to purchase a fixed amount of renewable energy at a fixed price. By entering into these agreements, NewRiver REIT PLC is able to secure a reliable and cost-effective source of renewable energy for its operations, while also supporting the growth of the renewable energy sector.

NewRiver REIT PLC has already signed several corporate PPAs with renewable energy generators across the UK. For example, in 2019, the company signed a 15-year PPA with a wind farm in Scotland, which will provide 100% renewable electricity to its shopping centers and retail parks in Scotland. This is expected to reduce the company's carbon emissions by over 3,000 tonnes per year, equivalent to taking 650 cars off the road.

In addition to corporate PPAs, NewRiver REIT PLC has also invested in on-site renewable energy generation across its portfolio. For example, the company has installed solar panels on the roofs of several of its shopping centers and retail parks, which generate renewable electricity for use on-site. This not only reduces the company's reliance on grid electricity but also provides a visible demonstration of its commitment to sustainability to its customers and stakeholders.

NewRiver REIT PLC has also implemented a range of energy efficiency measures across its portfolio. This includes the installation of LED lighting, which is more energy-efficient than traditional lighting, and the implementation of smart building management systems, which optimize energy usage and reduce waste. These measures not only reduce the company's energy consumption but also result in cost savings, which can be reinvested into the business.

As part of its decarbonisation efforts, NewRiver REIT PLC has also set ambitious targets to reduce its carbon emissions. The company has committed to reducing its carbon emissions by 50% by 2030, compared to a 2017 baseline. This target is aligned with the UK government's net-zero emissions target and demonstrates the company's commitment to playing its part in mitigating the impact of climate change.

In conclusion, NewRiver REIT PLC is a leading retail REIT in the UK that is committed to decarbonisation and renewable energy. The company has implemented a range of measures to reduce its energy consumption, increase energy efficiency, and transition to renewable energy sources. This includes the implementation of corporate PPAs, on-site renewable energy generation, and energy efficiency measures. NewRiver REIT PLC has also set ambitious targets to reduce its carbon emissions, demonstrating its commitment to sustainability and mitigating the impact of climate change.