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Unlock corporate sourcing of renewables to deliver a cleaner, stronger EU, say multinationals
- 50+ major companies call for corporate renewables to be built into the EU’s COVID-19 economic stimulus package – includes 40+ of Europe’s biggest corporate buyers of renewable electricity, such as Mars, Ingka Group and VF Corporation;
- Key asks include stimulating greater investment from the financial sector, and policies to support a faster roll-out of corporate power purchase agreements;
- Demand-side groups and renewable industry bodies highlight opportunity to deliver on the European Green Deal.
Risk Mitigation for Corporate Renewable PPAs report
Corporate renewable PPAs have the potential to make a big difference in the transition to a low-carbon economy by providing developers of renewable power plants certainty on future revenues. But they are not simple. PPAs have many risks associated with them, risks that have traditionally been handled by utilities, developers and energy traders.
This report describes the risks that corporates need to be aware of when considering a long-term PPA and provides examples, written by expects in the field, of mitigating services and tools which can be used to mitigate some of the risks.
We hope this report helps you on your way to signing a PPA and contributing to the build-out of new renewable power.
European Renewable Energy Buyers Toolkit
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European Corporate Sourcing Directory
Template PPA Contract
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EFET standard CPPA officially launched
The European Federation of Energy Traders (EFET) and RE-Source Platform are pleased to announce the publication of the standard Corporate Power Purchase Agreement (CPPA).
This is the first standard CPPA valid for all European countries to bring down transaction costs and facilitate the negotiation process. The standard CPPA had been widely circulated across the industry (energy buyers and suppliers), law firms, advisors and a number of lenders have confirmed its bankability.
The standard CPPA allows for both physical and financial PPAs with the proven Election Sheet approach allowing for flexible tailoring of the PPA to the needs of the companies involved. The agreement will be supported by legal opinions in key jurisdictions, as well as translated into other EU languages to ease its uptake across Europe.
You can find the EFET standard CPPA template here.
Letter to European Commission
The RE-Source Platform, supported by multiple corporates, has just issued a letter to the European Commission urging them to prioritise the removal of regulatory barriers to corporate renewable PPAs as part of the upcoming recommendations to Member States on their draft National Energy and Climate Plans, so that the potential of corporate PPAs can be realised.
These recommendations must be clear, actionable, and country-specific. Getting this right could unlock significant corporate demand for green electricity.
The RE-Source Platform has also published a set of general policy recommendations as input to this process.
RE-Source declaration
Objectives
- Influence EU and national renewable energy and energy market legislation: the Platform will coordinate and align advocacy strategies. It will also define and implement possible common outreach initiatives at EU level and in member states with high potential
- Raise awareness and educate all stakeholders on the advantages of sourcing renewable energy and the huge untapped opportunity
- Centralise and disseminate information on renewable energy sourcing
- Provide business opportunities: connecting renewable energy buyers and sellers
- Deliver an annual “RE-Source” experience: bring together key players from the energy sector, corporates and governments at the annual RE-Source event
Organisations behind the platform
SolarPower Europe is a member-led association representing organisations active along the whole value chain. Our aim is to shape the regulatory environment and enhance business opportunities for solar power in Europe. Members include BayWa r.e., Enel Green Power, First Solar, Huawei, LongiSolar, Trina Solar and Wacker.
WindEurope is a European trade-association representing the entire wind energy value chain: from utilities/developers, manufacturers, banks and insurance companies, to research institutes. WindEurope’s membership also includes the national wind energy associations of all the countries in Europe.
RE100 is a collaborative initiative uniting the world’s most influential businesses committed to 100% renewable power. Renewables are a smart business decision, providing greater control over energy costs and driving innovation, while helping companies to deliver on emission reduction goals.
RE100 members, including Global Fortune 500 companies, have a total revenue of more than US$2.75 trillion and operate in a diverse range of sectors – from Information Technology to automobile manufacturing. They send a powerful signal to policymakers and investors to accelerate the transition to a low carbon economy.
RE100 is brought to you by The Climate Group in partnership with CDP, as part of the We Mean Business coalition. RE100.org | @theRE100 | #RE100
WBCSD is a global, CEO-led organization of over 200 leading businesses and partners working together to accelerate the transition to a sustainable world. We help make our member companies more successful and sustainable by focusing on the maximum positive impact for shareholders, the environment and societies. Our member companies come from all business sectors and all major economies, representing combined revenues of more than $8.5 trillion and 19 million employees.
WBCSD is uniquely positioned to work with member companies along and across value chains to deliver impactful business solutions to the most challenging sustainability issues. Together, we are the leading voice of business for sustainability: united by our vision of a world where more than 9 billion people are all living well and within the boundaries of our planet by 2050.
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