Global Corporations Buy Record 7.2GW of Clean Energy So Far This Year

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So far this year, global corporations have purchased 7.2GW of clean energy.

New statistics released by Bloomberg New Energy Finance (BNEF) show this has already surpassed last year’s record of 5.4GW.

Around 60% of 2018’s renewable procurement to date has come from the US, totalling 4.2GW – Facebook has been the largest buyer, purchasing more than 1.1GW.

The social media giant is followed by telecommunications firm AT&T with 820MW and aluminum manufacturers Norsk Hydro and Alcoa with 667MW and 524MW respectively.

The report shows the 140 businesses signed up to the RE100 initiative consume an estimated 184TWh of electricity between them.

If the signatories are to meet their renewable energy targets by 2030, BNEF estimates they will need to purchase an additional 197TWh.

2018 has also been a record year for corporate procurement in Europe, with companies having purchased 1.6GW of clean energy this year, up from 1.1GW in 2017.

Norsk Hydro and Alcoa Corp have also made up 75% of this activity, signing deals in Norway and Sweden as they strive to secure guaranteed prices for the future.

Source: Energy Live News