Corporate renewable energy sourcing tool launched

EUROPE: A platform has been launched to bring together sellers and corporate buyers of renewable energy.

WindEurope CEO Giles Dickson speaking at the RE-Source 2017 event in Brussels last month

RE-Source pools information on renewable energy sourcing and coordinates strategies for advocating corporate power purchase agreements (PPAs).

The platform will "promote a better framework for renewable energy sourcing at EU and national level", the group behind RE-Source, which includes WindEurope and RE100, believe.

"Corporate renewable PPAs provide clean, reliable and competitive power for industry across all sectors and increasingly in energy-intensive sectors. It’s now a well-established model in many countries in Europe," said WindEurope CEO Giles Dickson.

The platform launch comes weeks after the RE-Source event in Brussels, which brought together companies interested in buying and selling renewable energy.

At the event in October, WindEurope argued for law changes to better facilitate corporate renewable PPAs.

The trade body also called for greater clarity in legal frameworks regarding such power deals and on barriers to PPAs.

European companies have signed more than 1.5GW of renewable PPA deals over the past four years, according to Bloomberg New Energy Finance (BNEF) figures.

In 2016, the number of renewable PPAs finalised tripled year-on-year, according to BNEF data.

"The new RE-Source platform will play a vital role in spreading the model to all countries in Europe and to smaller companies so that more industrial consumers can benefit from it," Dickson added.

Sam Kimmins, head of RE100, a global group of businesses committed to sourcing 100% renewable power, said: "Bringing together our combined expertise, and the buying power of RE100 members, will help us influence the development of a supportive policy framework in Europe, with stronger markets for renewable electricity."