European corporate PPAs reach new high in 2018

A record 1.5GW of corporate power purchase agreements (PPAs) for wind power were signed in Europe last year, according to analysis by industry group WindEurope.

Since 2013, European companies have signed agreements to buy output from 4.7GW of wind power (pic credit: Vestas)
Since 2013, European companies have signed agreements to buy output from 4.7GW of wind power (pic credit: Vestas)

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Deals were struck in the pharmaceuticals and automotive sectors for the first time, and debut agreements were also signed in Germany, Spain and Poland.

The first offshore wind PPA was also completed, with pharmaceutical company Novo Nordisk and biotechnology firm Novozymes due to receive output from Vattenfall’s Kriegers Flak site.

Meanwhile, large power deals signed by Norsk Hydro and Alcoa in Sweden and Norway respectively helped aluminium production become the most active sector in 2018.

Since 2013, European companies have signed agreements to buy output from 4.7GW of wind power.

Prior to the 1.5GW of PPAs being signed last year, the previous record was about 1.3GW in 2017.

WindEurope stated the EU Clean Energy Package demands the removal of obstacles to corporate PPAs, and that national governments should outline how they intend to do this in their National Energy Plans this year.

"Corporate PPAs are booming. It shows industrial consumers see wind power as competitive and reliable. And it will help allow industry to reduce its energy costs," CEO Giles Dickson added.

"The CO2 benefits are big too: industry accounts for over half of Europe’s electricity consumption."

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