That is a headline conclusion of the latest research and advice paper from the RE-Source Platform, a consortium consisting of The Climate Group’s RE100 initiative and its member corporates; WindEurope, SolarPower Europe; CDP and the World Business Council for Sustainable Development (WBCSD). According to the report, wind accounted for 85% of the off-site PPA deals made in 2019 by value. Investment in such deals was particularly pronounced in Sweden, Norway and here in the UK.
According to the RE-Source Platform’s findings, policymakers and businesses in most European nations are, like the UK, prioritising offshore renewable generation technologies, as they can typically be made larger than onshore arrays. Solar, however, still had a major role to play, the report concludes, accounting for almost 30% of clean PPA deals made last year in Europe by volume. In comparison, solar accounted for less than 6% of all clean PPA deals made in Europe by volume in 2018.
While the facts and figures for Europe are promising, and even larger year-on-year boom in clean PPAs was recorded in the US in 2019. Renewable PPAs made in the US last year totalled 16GW, up from 10GW in 2018, the report states. 16GW is equivalent to four-fifths of the global total.
Source: Edie
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