Highlight: Clean Energy Package - Major European Companies want higher renewable ambitions!
By: Aurelie Beauvais, Policy Director
On the 10th of October in the European Parliament, SolarPower Europe will deliver, with WindEurope and RE100, the event 'A Business Approach to Renewables ambitions'.
This Event, hosted by MEP Blanco Lopez, rapporteur on the RED recast, will provide major European and global companies (H&M, Ikea, Azko Nobel) with the opportunity to shed light on the huge untapped potential of 'Power Purchasing Agreements' in Europe.
Corporate Renewable Power Purchase Agreements (PPAs) allow corporates to buy renewable energy on a long-term basis directly from energy generators without being co-located. These contracts could solve many challenges brought forward by the European energy transition.
They guarantee renewable producers with long-term visibility on their revenues, while helping companies to hedge against the challenges of volatile energy prices. PPAs are a tailor-made solution to support the competitiveness of European energy-intensive companies, and SMEs. At the same time, and as we consider the progressive phase-out of public subsidies for renewables, corporate PPAs are an effective and relevant driver for the future uptake of clean energy.
Confirming these prospects, Corporate Renewable PPAs accounted for almost half of the installed renewable energy capacity in the USA in 2016. It is big, it is promising, and still largely untapped in Europe!
As major companies start to join this revolution, the event will enable European champions to raise awareness on the unsuspected benefits of a favorable regulatory framework for PPAs in Europe.
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