Equinix has signed a new wind Power Purchase Agreement with French renewable power producer Neoen in Finland.
Iberdrola and PepsiCo have signed a long-term Power Purchase Agreement (PPA), under which the electricity company will supply 100% renewable electricity to all of PepsiCo's centres in Spain and Portugal. It will come into force on 1 January 2023.
Renewable energy company Corre has signed a 10-year collaboration agreement with Geostock, a specialist in underground hydrocarbon storage, to accelerate its green energy projects as Europe turns away from Russian oil and gas.
In a much-awaited report, the EU Agency for the Cooperation of Energy Regulators (ACER) delivered its conclusion on the role played by wholesale electricity markets in the ongoing energy price crisis, exacerbated by Russia’s war in Ukraine. The report states: “Whilst the current circumstances impacting the EU’s energy system are far from ‘normal’, ACER finds that the current electricity market design is not to blame for the current crisis”.
It’s been another strong year for PPAs or Power Purchase Agreements in Europe. 2020 saw more than double (53) of PPAs signed compared to 2018 with 5.8 GW of CPPAs (Corporate Power Purchase Agreements). Spain and Germany seem to be the largest European markets for CPPAs.
Renewable energy PPAs (Power Purchase Agreement) 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.