Major corporations, including Microsoft and Google, are calling on European governments to remove barriers for them to invest in renewable energy.
Around 100 organisations have urged governments to improve investment conditions by removing all regulatory and administrative restrictions for corporate sourcing of clean power, as required by the recently enacted Renewable Energy Directive.
Corporates also ask for greater clarity and certainty on the long-term ownership of Guarantees of Origin, which are crucial for them to know they are buying renewable electricity.
In addition, the organisations are calling for a wider variety of procurement models and market products to boost opportunities. This includes the provision for cross-border renewable energy transactions to improve cost effectiveness.
Corporate renewable power purchase agreements (PPAs) worth 6GW have already been signed in Europe, with 2GW contracted in 2018 alone, according to WindEurope. Commercial and industrial on-site corporate sourcing accounted for 1.7GW in 2017 and is expected to grow considerably in the next five years, it said.
Google senior energy lead from Marc Oman said: “As the world’s largest corporate buyer of renewable energy, we are dedicated to doing our part to scale renewables in Europe. Expansion of corporate PPAs can be a major driver in Europe’s renewable energy transition.”
Microsoft renewable energy strategist Vanessa Miller said: “Corporate sourcing of renewable energy plays a key role in accelerating Europe’s clean energy transition. The demand from corporates is clear.
“With the Renewable Energy Directive having being passed, we look forward to a regulatory framework further enabling corporate PPAs to allow more investments in renewable energy, taking us ahead in our journey towards a greener Europe.”