Afleveringen
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Overview:
Meta Platforms, Inc., the tech giant headquartered in Menlo Park, California announced the expansion of its clean energy partnership with Zelestra through the signing of four Environmental Attribute Purchase Agreements (EAPAs).
The agreements, totaling 595 MWac (720 MWdc) of solar energy capacity, will enable the construction of four new solar …
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This week on Global PPA Sherpa, we cover some of the most significant Power Purchase Agreements shaping the renewable energy landscape worldwide. In Egypt, AMEA Power continues its ambitious expansion with a new PPA and land agreement for a 500 MW wind project, cementing the nation’s growing commitment to renewables. Meanwhile, in Minnesota, Apex Clean Energy and Great River Energy are pioneering a unique agreement for the 300 MW Big Bend Wind project, combining a PPA with surplus interconnection services to overcome transmission challenges.
In Europe, ERG and ENGIE strengthen their partnership with a five-year deal for 220 GWh of wind energy, while Borealis partners with Aspiravi in Belgium to source 120 GWh annually from onshore wind farms, cutting CO₂ emissions by over 54,000 tons. Across the Atlantic, OData and Atlas Renewable Energy collaborate to power a Chilean data center entirely with solar energy, advancing sustainability in the Latin American tech infrastructure market.
We’ll also explore Ormat Technologies’ 10-year geothermal PPA with Calpine Energy Solutions in California, supporting the state’s push for carbon-free energy. In South Korea, a joint venture between CIP and Vena Energy secures a 500 MW offshore wind project, advancing the nation’s carbon neutrality goals. Back in the UK, Axpo and British Solar Renewables unveil a 10-year PPA for the Whaddon Farm Solar Park, which combines solar energy with cutting-edge battery storage.
Finally, in Sweden, Statkraft and Suomen Voima sign a 15-year PPA delivering 100 GWh of hydropower and wind energy annually, marking Suomen Voima’s entry into the Swedish market and highlighting Nordic collaboration in renewable energy.
Join us as we explore these deals, unpack the strategies behind them, and discuss their broader impact on the global renewable energy transition.
This report has been prepared based on publicly available information and is intended for informational purposes only. While every effort has been made to ensure the accuracy and completeness of the information contained herein, we make no guarantee, warranty, or representation, express or implied, as to its accuracy or reliability. Any actions or decisions taken based on the information presented in this report are at the sole discretion and risk of the reader. We expressly disclaim any and all responsibility or liability for any direct, indirect, or consequential loss or damages that may arise from reliance on the information contained in this report. Before making any decisions based on the content of this report, you are advised to consult with a qualified professional or trusted advisor.
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Zijn er afleveringen die ontbreken?
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Podcast covering several recent corporate power purchase agreements (PPAs) for renewable energy.
These agreements highlight a growing trend of companies committing to sustainable energy sources, with examples ranging from a major Italian lime producer partnering with Shell for solar power to Google's large-scale solar energy deal in Oklahoma.
Other examples include Japanese railway companies using solar and biogas, and a partnership between Meta and ENGIE for a Texas solar project.
Finally, a Canadian carbon removal company's agreement with a UK renewable energy developer for Alberta solar power demonstrates the expanding global market for sustainable energy solutions.
This report has been prepared based on publicly available information and is intended for informational purposes only. While every effort has been made to ensure the accuracy and completeness of the information contained herein, we make no guarantee, warranty, or representation, express or implied, as to its accuracy or reliability. Any actions or decisions taken based on the information presented in this report are at the sole discretion and risk of the reader. We expressly disclaim any and all responsibility or liability for any direct, indirect, or consequential loss or damages that may arise from reliance on the information contained in this report. Before making any decisions based on the content of this report, you are advised to consult with a qualified professional or trusted advisor.
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January 15, 2025
Overview
East Japan Railway Company (JR East), a leading railway operator in Japan, has entered into two Power Purchase Agreements (PPAs) to enhance the sustainability of its operations.
The first PPA, signed with Tohoku EPCO, focuses on supplying renewable energy to specific Shinkansen lines in the Tohoku area. This agreement will supply approximately 35 GWh annually from 21 MW of solar power plants. The energy will cover 20% of the power consumption for sections of the Yamagata and Akita Shinkansen lines.
The second PPA, signed with JERA, targets JR East station buildings in the Tokyo area. This agreement involves energy supply from 42 solar power plants totaling 2 MW, aggregated by JERA Cross, to Atre Oimachi and Lumine Yokohama.
In addition, J Bio Food Recycle will supply biogas-generated power from food waste produced at JR East station buildings, contributing to the multi-technology energy mix.
Offtaker:
* Name: East Japan Railway Company (JR East)
* Website: https://www.jreast.co.jp/e/
* Profile: JR East is one of Japan's leading railway companies, operating an extensive network of train lines, including the Shinkansen (bullet train) services, primarily in the eastern regions of Japan.
* Location: Shibuya, Tokyo, Japan
* Industry: Transportation
* Sub-industry: Railway Operations
Producer 1:
* Name: Tohoku Electric Power Co., Inc.
* Website: https://www.tohoku-epco.co.jp/index-e.htm
* Profile: Tohoku Electric Power is a major electric utility company in Japan, providing electricity to the Tohoku region and parts of Niigata Prefecture.
* Location: Aoba-ku, Sendai, Miyagi, Japan
* Industry: Electric Utility
* Sub-industry: Power Generation and Distribution
Producer 2:
* Name: JERA Co., Inc.
* Website: https://www.jera.co.jp/en/
* Profile: JERA is Japan's largest power generation company, operating across the entire energy supply chain, from fuel procurement to power generation.
* Location: Chuo-ku, Tokyo, Japan
* Industry: Electric Utility
* Sub-industry: Power Generation and Energy Solutions
* Executives Involved: Not disclosed
Deal Details:
* Energy Source: Solar and Biogas
* Technology: Photovoltaic (PV) Solar Panels and Biogas Generation
* Plant Capacity (MW):
* Tohoku Electric Power: 21 MW
* JERA: 2 MW
* Energy Volume Sold (MWh): Approximately 35 GWh per year (Tohoku Electric Power)
* Power Plant(s) Location(s):
* Tohoku Electric Power: Undisclosed locations within the Tohoku region
* JERA: 42 solar power plants in the Tokyo area
* Power Plant(s) Description: The solar power plants involved in these agreements are owned by undisclosed generators and will supply renewable energy to JR East's operations.
* Offtake Location(s):
* Shinkansen Lines: Yamagata Shinkansen (Fukushima to Shinjo stations) and Akita Shinkansen (Morioka to Akita stations)
* Station Buildings: Atre Oimachi and Lumine Yokohama
* Contract Type: Off-site Power Purchase Agreement
* Currency: Japanese Yen (¥)
* Deal Date:
* Tohoku Electric Power: December 5, 2024
* JERA: January 14, 2025
* Projected Commissioning: Power supply is expected to begin in April 2025.
Market and Impact Analysis:
These PPAs represent JR East's commitment to incorporating renewable energy into its operations, contributing to Japan's broader goals of reducing carbon emissions and promoting sustainable energy practices.
The agreement with Tohoku Electric Power will supply approximately 20% of the energy consumption for specific sections of the Yamagata and Akita Shinkansen lines, accounting for about 2% of JR East's overall Shinkansen power consumption.
The collaboration with JERA will provide renewable energy to two major station buildings in the Tokyo area, further supporting JR East's sustainability initiatives.
This report has been prepared based on publicly available information and is intended for informational purposes only. While every effort has been made to ensure the accuracy and completeness of the information contained herein, we make no guarantee, warranty, or representation, express or implied, as to its accuracy or reliability. Any actions or decisions taken based on the information presented in this report are at the sole discretion and risk of the reader. We expressly disclaim any and all responsibility or liability for any direct, indirect, or consequential loss or damages that may arise from reliance on the information contained in this report. Before making any decisions based on the content of this report, you are advised to consult with a qualified professional or trusted advisor.
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Companion Podcast about Low Carbon’s and Deep Sky’s 10-year power purchase agreement.
Low Carbon's new 9 MW solar facility in Alberta, Canada, will supply renewable energy to Deep Sky's carbon capture facility.
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Overview:
Google has entered into a Power Purchase Agreement (PPA) with Apex Clean Energy to procure the entire output of the Rocky Forge Wind project, Virginia's inaugural onshore wind farm. This collaboration aligns with Google's objective to operate its data centers on carbon-free energy around the clock by 2030.
The Rocky Forge Wind project, situated in Botetourt County, Virginia, boasts a capacity of 79.3 megawatts and comprises 13 General Electric wind turbines. The facility is scheduled to commence commercial operations in 2026. The electricity generated will supply Google's data centers in Virginia, reinforcing the company's sustainability initiatives.
Amanda Peterson Corio, Google's Head of Data Center Energy, emphasized the significance of this venture, stating, "The Rocky Forge Wind project builds on our strong collaboration with Apex Clean Energy to both support decarbonizing our operations in Virginia and the broader PJM grid system."
Apex Clean Energy, headquartered in Charlottesville, Virginia, specializes in the development, construction, and operation of utility-scale wind and solar power facilities across the United States. Eamon Perrel, Executive Vice President of Business Development at Apex, remarked, "Rocky Forge represents a new chapter in Virginia’s energy transition, delivering lasting economic and environmental benefits to Apex’s home state while advancing Google’s sustainability goals."
This agreement marks the second collaboration between Google and Apex Clean Energy. In August 2023, the two companies signed an offtake agreement for the full capacity of the 189-megawatt Timbermill Wind project in Chowan County, North Carolina.
Offtaker:
* Name: Google LLC
* Website: https://about.google/
* Profile: Google is a multinational technology company specializing in internet-related services and products, including online search, advertising, cloud computing, and software.
* Location: Mountain View, California, USA
* Industry: Technology
* Sub-industry: Internet Services and Products
* Executives Involved: Amanda Peterson Corio, Head of Data Center Energy
Producer:
* Name: Apex Clean Energy
* Website: https://www.apexcleanenergy.com/
* Profile: Apex Clean Energy develops, constructs, and operates utility-scale wind and solar power facilities across the United States, aiming to accelerate the shift to clean energy.
* Location: Charlottesville, Virginia, USA
* Industry: Renewable Energy
* Sub-industry: Wind and Solar Energy Production
* Executives Involved: Ken Young, Chief Executive Officer
Deal:
* Energy Source: Wind
* Technology: Onshore Wind Turbines
* Plant Capacity (MW): 79.3
* Energy Volume Sold (MWh): Not specified
* Power Plant Name: Rocky Forge Wind
* Power Plant Location: Botetourt County, Virginia, USA
* Power Plant Description: Virginia's first onshore wind farm, comprising 13 GE wind turbines, expected to generate enough energy to power up to 21,000 U.S. homes annually.
* Offtake Location(s): Google's data centers in Virginia
* Contract Type: Power Purchase Agreement (PPA)
* Currency: Not specified
* Certification Instrument: Not specified
* Contract Duration: Not specified
* Deal Date: December 18, 2024
Project Milestones:
* Projected Commissioning: 2026
Market and Impact Analysis:
The Rocky Forge Wind project represents a significant advancement in Virginia's renewable energy landscape as the state's first onshore wind farm. By supplying clean energy to Google's data centers, it supports the company's commitment to achieving net-zero emissions and 24/7 carbon-free energy by 2030. The project is expected to create up to 250 jobs during construction and generate approximately $30 million in state and local tax revenue over its operational lifetime, contributing to local economic development.
Sources:
* Data Center Dynamics: Google signs onshore wind PPA with Apex in Virginia
* Apex Clean Energy: Apex Appoints Ken Young to Chief Executive Officer
* Rocky Forge Wind
* WSLS: Google set to buy electricity from Botetourt County wind farm
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In December 2024, the renewable energy sector closed out the year strong, through a series of landmark Power Purchase Agreements (PPAs). Corporations and utilities inked deals to secure long-term access to clean energy.
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A Solar Surge and Wind’s Quiet Power
At the forefront of this renewable wave is Meta, which finalized an agreement with Longroad Energy for the development of the 1000 Mile solar project in Texas. This solar behemoth, with a capacity of 300 MWac (400 MWdc), will power the tech giant’s operations, reinforcing its commitment to run on 100% clean energy. Texas, often associated with its oil-rich history, continues to assert itself as a hub for solar energy, benefiting from abundant sunshine and an infrastructure primed for large-scale renewables.
In a parallel narrative, Copenhagen Infrastructure Partners (CIP) joined forces with Iberdrola to develop a 500 MW offshore wind project in Germany. This 20-year agreement represents more than just an energy transaction; it reflects the growing appetite for offshore wind in Europe, where governments and corporates alike see wind energy as a cornerstone of decarbonization strategies.
Similarly, Google expanded its renewable portfolio with a deal to procure wind power from Apex Clean Energy in Oklahoma. The 250 MW project dovetails with Google’s ambitious 24/7 carbon-free energy goal, a strategy that is rapidly setting a benchmark for the tech industry.
New Players, New Markets
While the established renewable markets of the United States and Western Europe dominated headlines, Eastern Europe quietly emerged as a player to watch. In Romania, OMV Petrom signed a 10-year deal with DTEK Renewables for a 200 MW onshore wind project, signaling the region’s growing role in the renewable energy supply chain. Similarly, in Poland, PowerCo, a Volkswagen subsidiary, secured a 10-year agreement with SES Renewable for 150 MW of onshore wind power, underscoring the region’s competitive pricing and favorable regulatory shifts.
Southern Europe also made waves. In Portugal, Finerge partnered with BP to secure energy from a 100 MW wind farm under a 10-year agreement. This deal highlights the evolving role of legacy energy players like BP, which are increasingly aligning their strategies with the renewable energy transition.
Powering the Digital Economy: Renewable Energy and Data Centers
As the digital economy expands, so too does the energy demand of data centers—the silent engines driving everything from cloud computing to artificial intelligence. In December 2024, a significant portion of Power Purchase Agreements (PPAs) targeted renewable energy solutions for these energy-intensive facilities, underscoring the sector's pivotal role in the clean energy transition.
Meta, one of the most prominent players in the digital space, made headlines with its 300 MWac (400 MWdc) solar deal with Longroad Energy for the 1000 Mile solar project in Texas. The energy generated from this agreement will power Meta’s sprawling data centers, which underpin services like Facebook, Instagram, and WhatsApp.
Google, another tech titan, expanded its renewable portfolio with a 250 MW wind deal with Apex Clean Energy. The power generated will directly support Google’s data centers in Oklahoma, where the company has been investing heavily to optimize energy efficiency and sustainability.
Meanwhile, PowerCo, Volkswagen’s battery division, took a forward-thinking approach by securing renewable energy not just for its manufacturing plants but also for its emerging network of battery-focused data center through a 20-year agreement with VWS Renewable for a solar-plus-storage facility in Germany.
Switch, a lesser-known yet highly influential data center operator, made waves by partnering with Oklo for a groundbreaking 12-gigawatt advanced nuclear deployment across the United States. This agreement positions Switch as a leader in integrating nuclear energy into data center operations. The company’s facilities, known for their high-density computing capabilities, require reliable and uninterrupted power—something that nuclear energy is uniquely suited to provide.
The Energy-Data Nexus
Data centers are projected to consume nearly 4% of the world’s electricity by 2030, making their alignment with renewable energy critical for global decarbonization efforts. The December 2024 PPAs highlight two key trends in the energy-data nexus:
* Real-Time Energy MatchingCompanies like Google are pushing beyond traditional PPAs to ensure real-time renewable energy matching. This approach eliminates the time and locational mismatches common in renewable generation, setting a new benchmark for corporate energy consumption.
* Hybrid and Diversified SolutionsThe inclusion of solar-plus-storage and advanced nuclear power reflects a shift toward hybrid and diversified energy solutions. These technologies address the intermittent nature of renewables and provide the reliability that data centers demand.
Corporate Titans and Sustainability Mandates
Corporations continue to drive the renewable energy narrative. In Germany, PowerCo signed an innovative 20-year PPA with VWS Renewable for energy from a 300 MW solar-plus-storage facility. This hybrid approach illustrates how corporates are now prioritizing not just clean energy but also reliability and storage solutions to meet energy demands round the clock.
In Sweden, mining giant LKAB entered a 15-year agreement with Statkraft for energy from a 400 MW onshore wind project. LKAB’s move is emblematic of heavy industries taking strides to decarbonize, driven by rising stakeholder expectations and the tightening noose of regulatory mandates.
The Big Picture: Renewables Beyond Solar and Wind
December also saw the integration of non-traditional energy sources into the PPA landscape. Most notable was the collaboration between Oklo and Switch to deploy 12 gigawatts of advanced nuclear power across the United States. This partnership, which includes a series of PPAs, introduces nuclear energy as a serious contender in the clean energy mix, addressing baseload power needs that solar and wind cannot consistently fulfill.
Trends Defining the Future
A few key themes emerge from this flurry of activity:
* Diversification of Energy SourcesWhile solar and wind continue to dominate, the integration of advanced nuclear energy and hybrid systems signals a willingness to embrace a broader energy mix.
* Regional ExpansionWhile traditional markets like the U.S. and Western Europe remain dominant, Eastern Europe and Southern Europe are gaining ground, driven by favorable economics and regulatory frameworks.
* Long-Term CommitmentContract durations ranged from 10 to 20 years, underscoring the market’s maturity and the confidence of both buyers and developers in the stability of renewable energy pricing.
* Corporate LeadershipThe tech sector continues to lead, with companies like Meta and Google setting ambitious targets. Heavy industries, from mining to automotive, are following suit, driven by decarbonization mandates and stakeholder pressures.
Looking Ahead
The deals signed in December 2024 tell a story of evolution and ambition. They reflect a market not only growing in scale but also maturing in complexity. From solar farms in Texas to offshore wind in Germany, from nuclear power in the U.S. to wind projects in Eastern Europe, the renewable energy market is expanding its reach and deepening its impact.
As corporate sustainability goals intensify and geopolitical shifts reshape energy priorities, the coming years will likely see a continued surge in innovative deal structures and the integration of diverse energy technologies. December’s agreements offer a glimpse into this future—one where renewables are not just a niche segment of the energy market but its undeniable foundation.
This report has been prepared based on publicly available information and is intended for informational purposes only. While every effort has been made to ensure the accuracy and completeness of the information contained herein, we make no guarantee, warranty, or representation, express or implied, as to its accuracy or reliability. Any actions or decisions taken based on the information presented in this report are at the sole discretion and risk of the reader. We expressly disclaim any and all responsibility or liability for any direct, indirect, or consequential loss or damages that may arise from reliance on the information contained in this report. Before making any decisions based on the content of this report, you are advised to consult with a qualified professional or trusted advisor.
Global PPA Sherpa is a reader-supported publication. To receive new posts and support my work, consider becoming a free or paid subscriber.
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December 27, 2024
Overview:
United Microelectronics Corp. (UMC), one of the world’s largest semiconductor manufacturers, has signed a 30-year corporate power purchase agreement with Copenhagen Infrastructure Partners. The agreement, tied to Taiwan’s Fengmiao I Offshore Wind Farm, commits UMC to purchasing over 30.000 GWh of renewable energy, marking a significant shift in how the company powers its operations.
The Fengmiao I project, developed under CIP’s flagship fund Copenhagen Infrastructure V (CI V), is set to become one of Taiwan’s major renewable energy assets. Located 35 kilometers off the coast of Taichung City, the 500 MW wind farm will feature 33 turbines and is expected to begin generating power in 2027. Construction is slated to start in 2025.
This deal is a cornerstone of UMC’s environmental strategy, which has seen the company step up its renewable energy targets. In 2023, UMC reported a 26% reduction in its scope 1 and scope 2 greenhouse gas emissions compared to 2020, achieving its original 2030 target seven years ahead of schedule. As a result, it has now raised its goal to a 42% reduction by 2030.
Stan Hung, Chairman of UMC, emphasized that securing long-term renewable energy supply is critical to maintaining the company’s competitive edge in a decarbonizing global economy. Co-Presidents SC Chien and Jason Wang underscored the operational and reputational advantages of the deal, noting that semiconductor clients are increasingly prioritizing supply chain sustainability.
On CIP’s side, Managing Partner Jakob Baruël Poulsen highlighted the scale of the Fengmiao I project as a demonstration of the growing demand for industrial-scale renewable energy solutions. Martin Neubert, Group CIO at CIP, noted that projects like Fengmiao I not only drive renewable energy adoption but also provide stable, long-term returns for institutional investors.
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