Commercial, Industrial, Regulation, Sourcing Renewables  -  December 15, 2017

Corporates push EU toward 35% renewable target

A group of the world's largest companies, along with utilities and renewable energy suppliers, have issued a joint declaration urging members of the European Union's energy council to set a renewable energy target of at least 35% and lift regulatory barriers to the development of corporate renewable PPAs. 

The declaration was made ahead of a pivotal meeting of the European Union's energy ministers that will address the organization's long-term renewable energy policies, and came signed by 50 companies including tech giants Amazon, Apple, Google, Facebook and Microsoft, as well as DuPont, IKEA, Marks and Spencer and Unilever. Through the letter, the companies ask the energy minister to fully consider the importance of corporate access to renewable energy as it addresses the E.U.'s post-2020 Renewable Energy Directive, particularly under a more aggressive target. 

"The post-2020 Renewable Energy Directive has a key role to play to unlock the potential of corporate renewable PPAs, which remains largely untapped in Europe," the companies wrote. "First and foremost, a strong investment signal is key to further positioning industries with large investment potential in supporting Europe's clean energy goals." 

Reuters reported Dec. 13:

The target now being discussed by EU nations is for the bloc to source at least 27 percent of its energy from renewables by 2030 - up from the 20 percent goal for green energy by 2020. The European Parliament has called for a higher target. The final law will result from negotiations between the two bodies.

Eleven of the signatories to the letter are members of RE100 program. 

"European countries need to seize the opportunity to unlock far greater corporate investment in renewable electricity, and deliver on their climate commitments, by ensuring that the forthcoming Renewable Energy Directive (REDII) enables engagement in corporate renewable Power Purchase Agreements across Europe," Sam Kimmins, head of the RE100 said in a Dec. 13 blog post.  

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