Technology giant Google has signed its largest ever power purchase agreement (PPA) with offshore wind projects off the coast of the Netherlands as part of efforts to green its power supply and hit climate targets, it said on Thursday. According to Reuters, renewable power project developers are increasingly tying their electricity output to long-term PPAs to provide revenue security, while corporate buyers are keen to lock in supply and ensure they meet targets for sourcing clean power. Under its largest offshore wind PPA to date, Google has agreed to take 478 megawatts (MW) of power from two new wind farms developed by Crosswind & Ecowende Consortia, joint ventures between energy companies Shell and Dutch utility Eneco. It also announced smaller renewable PPAs in Italy, Poland and Belgium but did not disclose any financial details of the deals. Google, however, is seeking to match each hour of electricity used with an hour of clean power production, something proponents of the method say better reflects companies’ actual energy use.

Source: Punch February 02, 2024 16:26 UTC