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.
Renewable power developers secure revenue stability by linking electricity output to long-term PPAs. Corporations like Google aim to guarantee a stable supply and achieve their clean power sourcing targets by entering such agreements.
In its most extensive offshore wind power purchase agreement (PPA) yet, Google has committed to acquiring 478 megawatts (MW) of power from two recently established wind farms. These wind farms are the outcome of collaborations between Crosswind & Ecowende Consortia, which are joint ventures involving energy giants Shell and Dutch utility Eneco.
In addition, Google revealed smaller renewable power purchase agreements (PPAs) in Italy, Poland, and Belgium. However, the company did not disclose the financial details of these agreements.
“Our ambition to operate on carbon-free energy around the clock by 2030 requires clean energy solutions in every grid where we operate,” said Matt Brittin, President of Google in EMEA.
Numerous companies with similar objectives typically operate on an annual basis, aligning power purchase agreements (PPAs) or purchases of renewable energy certificates with their yearly electricity consumption.
In contrast, Google aims to synchronize each hour of electricity consumption with an hour of clean power production, a strategy proponents believe more accurately mirrors companies’ actual energy usage.
