US Corporate Renewable Energy Procurement Hits Record Levels

Corporate renewable energy procurement is currently on track to exceed 5 gigawatts (GW) in 2018, according to figures announced recently by the Renewable Energy Buyers Alliance, which is so far tracking a new record of at least 4.96 GW worth of new capacity already acquired this year.

So far this year (as of October 19) there have been 59 deals signed by US corporates for a total of 4.96 GW — already a new record over the previous high of 3.22 GW set in 2015, and representing the most first-time buyers in a single year.

The largest corporate-backed projects announced and signed this year include the 315 megawatt (MW) Power Purchase Agreement (PPA) signed between Microsoft and sPower in March for electricity from the 500 MW Pleinmont I and II solar farms in Virginia; and the dual announcement made by AT&T in February for 300 MW of wind energy from a project in Texas and 220 MW for wind energy from a project in Oklahoma. (It’s worth noting that AT&T followed that up in June with a separate 300 MW PPA to secure electricity from two Texas wind farms.) Continue reading “US Corporate Renewable Energy Procurement Hits Record Levels”