Corporate PPA deal volumes fall for first time in a decade

Projects such as co-located solar and storage hold the key to the power purchase agreement market returning to growth, according to a new report.

The latest data from BloombergNEF showed global clean PPA volumes fell for the first time last year in nearly a decade.

Corporations announced deals for 55.9 gigawatts of clean power in 2025, 10% down from the record set the prior year.

In Europe, PPA capacity fell back to 2023 levels with the report saying rapidly increasing hours of negative power prices are eroding the value of standalone solar and wind deals, pushing buyers toward hybrid portfolios. 

Nayel Brihi, BNEF corporate energy analyst and lead author of the report, said: “Some buyers in newer markets are just familiarizing themselves with the concept of offtake agreements altogether. For the market to return to growth, we will need to see clean, firm power supply options such as co-located solar and storage delivering at scale, and at competitive prices.”

Technology giants Meta, Amazon, Google and Microsoft were responsible for 49% of all global activity last year.