Enerdatics' analysis of corporate PPA activity in the US indicates that Amazon and Meta signed a combined total of 47 deals in 2023, as they aggressively chased targets to power 100% of their operations with renewable energy by 2025. Notable transactions include Amazon's 580 MW agreement with EDF in PJM and Meta's 530 MW PPA with PacifiCorp in CAISO. Chemical company LyondellBasell secured ~500 MW of clean power across three PPAs to support its operations in ERCOT, while Verizon recently announced that proceeds from its $1bn green bond issued in May'23, were fully allocated to PPAs signed during the year.
NextEra and TotalEnergies targeted steel manufacturers and chemical companies such as Steel Dynamics, LyondellBasell, and Holcim, providing them with ~2 GW of clean power last year. AES grew its customer base in the technology sector, signing a 500 MW deal for its massive 2 GW Bellefield solar+storage project in California. Meanwhile, ENGIE and EDP implemented a diversified strategy, engaging with a broad spectrum of off-takers across the healthcare, retail, agricultural, industrial, and technology sectors.
The above analysis is proprietary to Enerdatics’ energy analytics team, based on the current understanding of the available data. The information is subject to change and should not be taken to constitute professional advice or a recommendation.
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