In 2024 so far, Europe has seen the signing of four new multi-buyer Power Purchase Agreements (PPAs), marking the acceleration of an emerging trend in corporate renewable procurement. Combining multiple energy buyers around one PPA makes it easier for smaller buyers to source renewable energy.

This brings the total number of multi-buyer PPAs in Europe to 15, with eight of these signed since the start of 2023. As the number of multi-buyer PPAs grows, so too does the number of parties involved. Last month, a Danish PPA included 25 buyers from a diverse range of sectors, from water treatment to textiles.

The growing popularity of multi-buyer PPAs highlights the opportunity for more inclusive and diversified renewable procurement models. The benefit extends to bigger players, who can increasingly rely on renewable-powered suppliers to help them meet their Scope 3 emissions reporting obligations.