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RE-Source 2017 at a glance
What are PPAs?
Corporate Renewable Power Purchase Agreements allow corporates to purchase renewable energy directly from an energy generator. Google, Norsk Hydro, Unilever, Amazon, Facebook, InBev, Adobe, SwissRE, SAP, IKEA are just a few of major businesses looking to secure power from renewable energy.
As large energy consumers they believe that procuring green power helps them to reduce the cost and risks associated with fossil fuel-based power supply. Thanks to significant reduction in technology and operating costs in recent years, renewable producers can supply power below industrial retail price.100 top companies including leading industrial players are already committing to procure 100% renewable power in the short term through Power Purchase Agreements (PPAs).
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Why are big corporates investing in renewables?
Corporates are playing a catalytic role for the deployment of renewables worldwide. More and more companies are procuring or aiming to procure 100% renewable energy.
Corporate PPAs in Europe had a dramatic increase in 2016 to 1.6 GW of capacity, almost triple when compared to 2015. By choosing renewable energy as a commercial and strategic priority, corporates are showing a leadership and huge commitment in the global sustainability agenda.
“Since we’ve started doing our long term PPAs, we’ve seen many other technology and traditional companies follow suit, so I believe we’re starting to see industry in general realize that this is just not the right thing to do, but it’s good business as well.”
Global Vice President at Google
“This timely event will raise awareness of the huge opportunity presented by corporate sourcing of renewable energy. It will also identify barriers and propose solutions to facilitate companies, large and small, to procure more renewable energy.”
Head of Unit for Renewables and CCS Policy at DG Energy, European Commission
“In a world of volatile wholesale energy markets, a long-term deal with a renewables supplier gives some welcome price certainty. And as the costs of both solar and wind power continue to fall way beyond expectations, such deals are becoming increasingly attractive.”
Head of RE100, the Climate Group
“Corporate PPAs are a win-win: whilst enabling long-term contracts, they provide financial certainty for utilities and developers and they allow the chemical industry to contribute to sustainability goals. Corporate PPAs show that renewables are maturing into market based solutions.”
Director General of CEFIC