US wind PPAs hit record 2.86 GW in Q1

US utility and non-utility companies sealed 2,859 MW of long-term wind power purchase agreements (PPAs) in the first quarter of 2020, data by the American Wind Energy Association (AWEA) shows.

According to AWEA’s quarterly market update, this was the highest volume on record for a single quarter. The utility segment registered 1,719 MW of new PPAs, accounting for 60% of the total off-take activity, with electric utilities Evergy Inc (NYSE:EVRG) and AEP Energy contracting the most. Eversource Energy (NYSE:ES), National Grid (LON:NG) and Unitil Corp (NYSE:UTL) also signed PPAs for the 804-MW Mayflower Wind offshore project that will be built off Massachusetts.

Subscribe for Renewables Now's Corporate PPA Newsletter here for free!

Non-utility corporate buyers, meanwhile, were responsible for 430 MW of the new PPAs in the three months. This total includes off-take deals from two first-time buyers -- Saint Gobain North America, a unit of French building materials maker Compagnie de Saint Gobain SA (EPA:SGO), and Toyota Motor North America, part of Japanese carmaker Toyota Motor Corp (TYO:7203).

The US wind industry brought online 1,821 MW of wind parks in the first quarter, lifting the country’s cumulative installed operating wind capacity to 107,443 MW. At the end of March, 24,690 MW of projects were under construction and 19,751 MW in advanced development.