With a Surge in Asia Pacific, Corporations’ Purchase of Clean Power Reached Record High in 2017
According to Bloomberg New Energy Finance’s statistics, corporations globally purchased a record 5.4 gigawatt of clean power through long-term contracts in 2017. Most of this growth came from the Asia Pacific region, which became the second largest market behind the United States, but now ahead of Europe (Chart).
Australia significantly contributed to this growth with corporations signing power purchase agreements (PPA) for over 400 megawatts in 2017. Expensive wholesale power prices were one of the drivers for locking into long-term relatively cheap renewable electricity prices.