This article comes from the NewsWire of law firm Chadbourne & Parke and is written by Keith Martin
Keith Martin
Fewer corporate PPAs were signed in 2016 than expected at the start of the year.
Projections were that 4,000 MW of power purchase agreements would be signed directly with corporate purchasers of electricity. The final number was 2,194 MW, according to Renewable Choice Energy, a broker that helps arrange such contracts. Some companies may have been reluctant to lock in long-term purchases because of a perception that electricity prices will fall.
Buyers during 2016 included Johnson & Johnson, 3M, Dow Chemical, Google, Microsoft, Amazon, MIT, the University of California, the University of Illinois, Ithaca College, Steelcase, Lockheed Martin, Avery Denison, Salesforce, HSBC, Digital Realty, Iron Mountain, General Motors, Target, Walmart, and the U.S. Army.
In 2015, 3,260 MW of corporate PPAs were signed while in 2014, 1,494 MW of corporate PPAs were signed.
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