PPA

BloombergNEF says in a new report that corporations publicly announced 46 GW of solar and wind power purchase agreements (PPAs) in 2023, up 12% year on year. It says the increase was driven by a surge of activity in Europe.

South African real estate trust Growthpoint Properties has signed an offtake deal with local electricity trader Etana Energy for 195 GWh of renewable energy. The contracted power will be sourced from wind, with a smaller component of hydro and large-scale solar capacity.

Reel, a spinoff of the Technical University of Denmark (DTU), has raised €5 million ($5.4 million) of seed capital to enhance its products and expand internationally. It is offering customized fixed price contracts to businesses based on solar and wind power purchase agreements (PPAs).

Pexapark, a Swiss consulting firm, says December marked a robust conclusion to a strong year for power purchase agreements (PPA). Developers secured 23 new PPAs – nine more than in December 2022 – with a combined capacity of 936 MW.

Solar developer Alight will own and operate three solar parks under long-term power purchase agreements (PPAs) in Sweden. The projects are expected to generate at least 24 GWh combined, providing power to fashion retailer H&M.

Resources giant Rio Tinto has signed Australia’s largest corporate power purchase agreement (PPA) to date. It has agreed to buy 100% of the output from European Energy Australia’s 1.1 GW Upper Calliope Solar Farm to provide renewable power to its aluminum operations in the state of Queensland.

Sumitomo and Shikoku Electric have agreed to sell solar power to Japanese retailer Aeon Mall under a power purchase agreement (PPA). Around 15 MW of solar carports are now being developed to supply the electricity.

Greenvolt Power, a Portuguese independent power producer, says it was awarded 1.2 GW of capacity for six battery energy storage systems (BESS) in a recent renewable energy auction in Poland, claiming it was the “top winner.”

Downing Street is inviting stakeholder feedback into a “cap and floor mechanism” of long duration electricity storage (LDES) systems, and the move has been “warmly welcomed” by one of the country’s renewable groups, the Association for Renewable Energy and Clean Technology (REA). The organization says the consultation signals the government’s intention for implementation.

Northvolt is set to secure €902 million ($986 million) of state aid to build a battery gigafactory in northern Germany, while France has been allocated €2.9 billion to ramp up production of batteries, solar panels, wind turbines and heat pumps, according to a European Commission announcement.