Round-up of renewable energy PPA news (Oct 1-14)

Greetings from LevelTen Energy! We are in Amsterdam for the RE-Source Conference this week, talking about our favorite thing: renewable energy. Speaking of which, it is exciting to see all the PPA deals below, which demonstrate that demand for renewables remains high amid the very dynamic conditions we have seen in Europe over the past few months.

In LevelTen's Q3 report, we dive into how a confluence of factors, including skyrocketing electricity prices, the easing of COVID-19 lockdown restrictions, and rising carbon prices is driving a spike in demand for European PPAs. Our analysis shows an 8% q/q increase in Europe’s most competitive renewable PPA price offers. For countries such as Germany and the UK, increased capex costs and supply chain constraints are also adding to energy crisis woes, with both experiencing wind PPA price hikes in excess of 10% q/q.

Now, for the latest headlines by Renewables Now…

BHP poised to sign off-take deals for Iberdrola's Aussie wind-solar giant

October 14 - Mining giant BHP Group (ASX:BHP) announced today it is gearing up to sign “bespoke” deals with Iberdrola Australia to buy power from the 317-MW Port Augusta wind-solar complex in South Australia.

Engie, Currenta sign PPA for 50 GWh of wind energy in Germany

October 13 - French energy group Engie SA (EPA:ENGI) has agreed to supply 50 GWh of electricity from its wind parks in Germany to Leverkusen-based chemical park operator Currenta GmbH & Co. OHG within 16 months under a PPA.

PPG to buy solar power for paint manufacturing plant in Texas

October 12 - Pittsburgh-based paints and coatings supplier PPG Industries Inc (NYSE:PPG) has decided to buy power from a 200-MW solar power plant to supply its paint manufacturing facility in Carrollton, Texas.

Norfolk Southern buys renewable power to run ops in Pennsylvania

October 6 - US railway transportation company Norfolk Southern Corporation (NYSE:NSC) has signed contracts with Penelec and Met-Ed utilities to purchase 100% renewable power to supply its operations in the Altoona and Pittsburgh regions of Pennsylvania.

Dow unveils PPAs for 132 MW of clean power

October 6 - US chemical company Dow Inc (NYSE:DOW) has signed eight new renewable PPAs in Europe and the Americas for a total of 132 MW of wind and solar power capacity.

Axpo Bulgaria preparing pilot PPAs seen crucial for expanding renewable capacity

October 6 - Swiss renewable energy company Axpo's Bulgarian unit is working on pilot PPAs, expected to be officially announced between 2022-2025, Axpo Bulgaria managing director Milena Videnova said.

Kainai/Blood Tribe seeks off-takers for 300-MW wind project in Alberta

October 5 - Kainaiwa Resources (KRI), a development entity of the Kainai/Blood Tribe in the Canadian province of Alberta, is looking for companies willing to off-take the output of a planned on-Reserve wind project with a capacity of between 200 MW and 300 MW.

Danish fashion firm to power up 207-MW solar park

October 5 - Danish family-owned fashion company Bestseller said today a 207-MWp solar park in Denmark, described as the largest in Northern Europe, is ready to be connected to the European grid.

Brazil's Unigel signs wind PPA with Casa dos Ventos

October 4 - Brazilian petrochemical company Unigel has signed an off-take contract with local developer Casa dos Ventos Energias Renovaveis to buy some of the electricity generated by the 360-MW Babilonia Sul wind farm complex.

In depth

European renewable PPA price offers jump 8% quarter over quarter

October 14 - Europe’s most competitive renewable PPA price offers jumped 8% quarter over quarter as a result of Europe’s deepening energy crisis, LevelTen Energy’s Q3 2021 PPA Price Index revealed today.

Spain at the top of new corporate PPA index by EY

October 12 - Spain, the US, France and Germany are leading Ernst & Young Global’s (EY) new index of the top 30 markets with the highest corporate PPA growth potential.

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