Costs of developing clean energy capacity are falling and the industry is moving from being supported mainly by state subsidies to a more commercial footing where projects are supported by corporate backing, with EU, national or regional targets providing a foundation for the market.
The US sportswear giant Nike has signed its first power purchase agreement (PPA) for renewable power in Europe, committing to buy 40MW of wind power from a 111MW Iberdrola project in Navarra in Spain.
The deal shows how corporate demand for clean energy and state and regional decarbonisation targets are coming together to drive the market for renewables. Nike’s move is driven by its membership of RE100, the campaign to get companies to go completely renewable and follows its switch to 100% renewable electricity in the US a year ago…
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