Corporate giants paving way for 60-GW corporate renewables market by 2025

Some of the top US companies, including Google, Facebook (NASDAQ:FB), General Motors (NYSE:GM) and Walmart (NYSE:WMT), have joined hands in a new trade organisation aiming to support corporate clean energy buyers and thus expand that market to 60 GW by 2025.

Called the Renewable Energy Buyers Alliance (REBA), the entity will seek to promote the idea for a “resilient carbon-free energy system” by opening energy markets and providing greater choice to corporate renewable energy purchasers. This will be achieved through a focus on innovations in policy, markets and technology and educational training, REBA said on Thursday.

More than 300 companies from various industries and businesses are currently involved in the alliance of corporate renewable energy buyers whose electricity consumption accounts for more than 1% of the US total per year, or around 48 TWh. Nonresidential energy buyers, clean energy developers and other service providers will also be able to participate, according to the press release.

"Never before has such a diverse group of organizations, from every industry, come together to form an association with a single, market-focused, mission-driven vision of a zero-carbon energy future," said REBA's inaugural CEO Miranda Ballentine.

REBA will support its members from its offices in Washington, DC and Boulder, Colorado.

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