Company accounts for 20% of a record 31.1GW of clean power capacity bought by corporations
Companies bought over 30 gigawatts of renewable energy in 2021, equivalent to more than a third of California’s generation capacity, BloombergNEF report shows.Online retail giant Amazon.com led a record year for corporate renewable-energy purchases worldwide as businesses expand efforts to clean up their power sources to combat climate change.
Amazon accounted for 20% of a record 31.1GW of clean power capacity bought by corporations in 2021, according to a report from BloombergNEF. Overall, corporate buyers accounted for more than 10% of all renewable energy capacity added globally in 2021, it said. That is equivalent to more than a third of California’s generation capacity.
“It’s no longer a matter of whether corporate clean energy procurement will grow each year, it’s a matter of how much more,” said Kyle Harrison, head of sustainability research at BloombergNEF. “More corporations are making new sustainability commitments, costs for renewables are plummeting and regulators around the world are slowly coming around to the fact that clean energy might be a silver bullet in the decarbonisation of the private sector.
Technology giants were the largest corporate buyers of renewable power, accounting for more than half of the deals in 2021, according to the report. Amazon signed deals for 6.2GW, bringing its total clean energy capacity to 13.9GW and giving it the 12th largest clean energy portfolio among all types of companies. Register or sign in now.
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