Posted on: 18/06/2019
European Union (EU) Energy Commissioner Maros Sefcovic has been lobbied by businesses to remove barriers to corporate power purchase agreements (PPAs) being signed.
The companies, under the auspices of the RE-Source Platform, called for the commissioner to reform the system in his forthcoming recommendations to national governments.
Their letter to the commissioner said corporate PPAs could play a “decisive role” in helping member states to meet the EU’s 32% renewable energy target for 2030.
But it said only two of the EU members’ draft national energy and climate plans even mention corporate PPAs and that none of them “comply with the agreed legislation.”
US has four times more corporate PPAs
The letter said: “Over the past five years, there has been a significant increase in corporate sourcing in Europe – more than 16GW of new renewable energy sources have been contracted either through corporate renewable PPAs and direct onsite installations."
“The immense potential of corporate renewable PPAs in Europe could be unlocked by improvements to national regulatory frameworks."
“For comparison, corporate PPAs in the US in 2018 were four times the volume signed in Europe.”