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Corporations bought record total of clean energy despite devastating year
Amazon was the leading buyer of clean energy in 2020, announcing 35 separate clean energy PPAs in 2020, totaling 5.1 GW. The company has now purchased over 7.5 GW of clean energy to date, vaulting it ahead of Google (6.6 GW) and Facebook (5.9 GW) as the world’s largest clean energy buyer. French oil major Total (3 GW), TSMC (1.2 GW) and U.S. telecom Verizon (1 GW) were the next largest corporate buyers of clean energy in 2020.
BNEF said the flow of new companies making clean energy commitments is another indicator of how much more the market can grow. 65 new companies joined the RE100 in 2020, pledging to offset 100% of their electricity consumption with clean energy. BNEF forecast that the 285 RE100 members will collectively need to purchase an additional 269 TWh of clean electricity in 2030 to meet their RE100 goals. Should this shortfall be met exclusively with offsite PPAs, it would catalyze an estimated 93 GW of new, incremental solar and wind build.
Corporations bought record total of clean energy despite devastating year
“To not only maintain, but grow, the clean energy procurement market under these conditions is a testament to how high sustainability is on many corporations’ agendas,” said the lead au…
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