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Corporates talk renewables

Big business is talking with some leading renewable energy producers at an event in Brussels today to discuss how to incorporate more clean power.

With the private sector accounting for around half of Europe’s electricity usage its energy choices have huge implications for the environment. The RE-Source 2017 event in the Belgian capital brings together major industry players including Google, IKEA, and Mars with energy giants such as EDF Energies Nouvelles and ENEL Green Power.

Programmes like ’Corporate Renewable Power Purchase Agreements’ (PPAs), which enable firms to buy clean energy straight from the energy generator, are being discussed. PPAs nearly tripled across the continent last year – with more than 1GW contracted. Supporters of the initiative want the European Union to do more to facilitate its availability through the EU’S Clean Energy Package legislation.

Giles Dickson, CEO of industry body, WindEurope, said: “Wind energy producers can supply cheap power today thanks to significant reductions in technology and operating costs in recent years. Renewable PPAs help companies source the affordable power they want and at fixed prices reducing their exposure to volatile fossil fuel costs. But there are still barriers to PPAs. The Clean Energy Package is an opportunity to remove these and ensure PPAs can really flourish.”

And corporates are increasingly shifting to clean energy – as we reported in an article in June. The RE100 campaign – led by The Climate Group and CDP – is a leading initiative where businesses are making a commitment to moving to 100% renewable energy. JPMorgan Chase and Citi bank signed up last month to the Group, which now has 110 members from around the world – representing a cross-section of industries.

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