2021 hailed as record year for corporate PPAs

2021 hailed as record year for corporate PPAs

The corporate power purchase agreements signed last year reached record highs last year.

That’s the claim from a new report by BloombergNEF( BNEF) which estimated that corporations purchased an estimated 31GW of renewable electricity in 2021. That is up nearly 24% from the previous year’s record of 25.1GW, the research firm notes.

 

Another finding of the report suggests more than two-thirds of these PPAs took place in the US.

 

The study also found that technology companies were the largest corporate clean energy buyers last year. Amazon, Microsoft and Facebook parent company Meta topped the list of the biggest buyers.

 

Kyle Harrison, Head of Sustainability Research at BNEF, commented: “It is no longer a matter of whether corporate clean energy procurement will grow each year, it’s a matter of how much.

 

“More corporations are making new sustainability commitments, costs for renewables are plummeting and regulators around the world are slowly coming around to the fact that clean energy might be a silver bullet in the decarbonisation of the private sector.”