2024 has become another record-breaking year for European corporate PPA capacity having already broken the 10.8 GW record held in 2023. As of October 2024, Spain continues to lead this surge with approximately 11 GW contracted to date, followed by Germany at 6.7 GW, Sweden at 4.6 GW, the United Kingdom at 4.3 GW, France at 3.3 GW and the Netherlands falling to sixth place at 2.9 GW.

This growth underscores a robust commitment from European companies to decarbonise power procurement and facilitate additionality of new green generation in Europe. On a sector basis, information and communications technology (ICT) and heavy industry dominate corporate renewable energy procurement in Europe, with ICT in particular contracting 14.9 GW to date. Other sectors combined have so far contracted below 3.5 GW of renewables to date.

Despite the successes this year, high capital expenditures and interest rates has added pressure for energy suppliers to optimize revenues from both PPAs and the wholesale market. On the side of renewable energy procurement, PPA uptake has been limited by level of market hesitancy and concerns around transparency and additionality.

The Renewables Procurement & Revenues Summit serves as the European platform for connecting renewable energy suppliers to the future of energy demand. This includes bringing together a community of European off-takers, renewable generators, utilities, asset owners, and financiers.

The challenges ahead are complex, but through collaboration, innovation, and a shared vision, we can navigate uncertainties and forge a sustainable energy future. Let us harness our collective knowledge to advance the renewable energy agenda.