Big businesses are stepping up to buy power from new wind and solar farms in a boost to the renewables industry as cash-strapped governments come under pressure to cut subsidies.
The amount of renewable electricity sold to companies under long-term power purchase agreements (PPAs) rose 35 per cent last year, according to data from BloombergNEF. The biggest increase was in the US, where tech companies have been buying renewable energy to power data centres.
“Amazon was the number one company by far,” said Nayel Brihi, an analyst at BloombergNEF. But he added that another significant driver was companies in the chemicals, mining and raw materials sector, especially in developing countries.
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