The Largest Power Purchase Agreements (PPAs)

Renewable energy PPAs (Power Purchase Agreements) are here to stay. For they decarbonize company operations and are too powerful a price hedging tool for corporates, traders, or utilities to avoid. Europe, in fact, recorded the highest yet, with the volume of PPAs signed in 2021 surpassing 3.5 GW over 2020 figures. Here are some of the biggest PPAs (power purchase agreement) that have grabbed the headlines, in no particular order.  

Amazon with Ørsted

The global marketplace upped its renewable energy intake with a CPPA with Ørsted. It overtook Google in 2020 when it signed Europe’s largest offshore wind corporate power purchase agreement. The Seattle headquartered company’s 10-year CPPA would add 3.4 GW of new renewable power to its portfolio marketing a total capacity of 6.5 GW. The company believes that this CPPA would take it closer to its goal of being 100% renewable dependent by 2030. It shares other smaller size CPPAs with French utility Engie and oil major BP. 

Largest Corporate Power Purchase Agreements

Renewable Power Purchase Agreements help both corporates and power producers navigate uncertain market conditions

Google with 18 energy companies 

In its attempt to achieve net-zero emissions, they have been aggressively signing PPAs since 2011. Google or Alphabet Inc. had signed one of the biggest corporate PPA with the purchase of 1.6GW in renewable energy worldwide. With their new energy deals, the company’s renewable energy portfolio of almost 5.5GW would match the energy capacity of some countries like Lithuania and Uruguay. Two notable renewable energy supply deals struck by Google are 140MW contracts with ENGIE (Germany) and Candela Renewable, U.S., respectively.   

Adani With SECI 

Adani Group, India, is working towards being one of the largest renewables player by 2030. Their recent Green PPA with SECI (Solar Energy Corporation of India), they have overtaken Total’s deal. Arguably the world’s largest solar development tender this agreement will further the company’s subsidy, Adani Green Energy’s renewable portfolio, to 4,667 MW. Adani Group plans to further pump US$50-$70 billion investment in the renewables space to reach its goal soon.  

Facebook With Apex Clean Energy

In 2019, Facebook was the largest buyer of renewable energy in the U.S. Facebook or Meta’s has been committed to its goal of being 100% renewable to a good extent, and recently too got a PPA inked with Apex Clean Energy (U.S.) to source nearly 170MW of renewable power. The company claims to have a global portfolio of over 5.9 GW of wind and solar projects under contract, across the U.S., Europe, and Asia. 

Daimler Automotive Group with Statkraft 

Statkraft will rope in Bavaria’s largest solar park (equivalent of around 60 soccer fields), and 200 wind turbines (across Germany) to meet the renewable energy needs of Daimler AG or Mercedes-Benz’s PPA. By integrating solar and wind power volumes Statkraft will help the automotive company realize its plants need for 100% renewable energy 24/7. Mercedes-Benz also has various other PPAs signed with Poland and Norway.

Orange S.A with Total 

Orange, the French telecom, inked a deal with Total (through its subsidiary Total Quadran) in a 20-year-agreement to get 100 GWh a year of renewable electricity. By signing this contract with Total, the French telecom aims to cut its CO2 emissions by 30% and add 50% renewable energies into its electricity mix by 2025. This agreement also bolsters the development of a dozen new solar power plants throughout France that could give 80 MW of solar power. 

Join our upcoming forum on 2nd Annual Power Purchase Agreements 2022 to hear from the experts. 

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