Skip to main content

S&P Global Market Intelligence ($):

The COVID-19 pandemic proved to be a significant disruption for many corners of the global energy industry, but the corporate renewables market plowed ahead as if nothing had happened. S&P Global Market Intelligence tracked over 20,000 MW of new corporate wind and solar capacity throughout the year, making 2020 the most active year yet in the rapidly growing segment.

Leading the charge were technology and telecommunications companies, which saw their demand increase due to distancing and stay-at-home mandates worldwide. Internet retail and web services provider Inc. became the leader in corporate renewable capacity in 2020 after signing agreements for nearly two dozen new wind and solar projects around the globe. Amazon added 6,000 MW of new wind and solar capacity over the year for a cumulative total of 8,500 MW of renewable capacity, including on-site renewable generation.

Amazon signed deals with wind and solar projects in 14 countries including the U.S., the U.K., Spain, Australia, Sweden, Canada, South Africa and China. In the U.S., Amazon added over 1,350 MW of solar capacity in Ohio alone, including a 300-MW power purchase agreement, or PPA, with the Highland Solar Farm developed by Hecate Energy and a 200-MW deal with the Hillcrest Solar Project from Innergex Renewable Energy Inc. The Seattle-based company added to its substantial portfolio in Virginia with over 300 MW of new solar capacity to service its data centers in the region.

[Adam Wilson]

More: Corporations rate renewables market flourished in 2020 despite pandemic

Join our newsletter

Keep up to date with all the latest from IEEFA