Amazon Tops The 2020 List Of Corporate Renewable Energy Buyers

At-a-Glance:

Just which companies are the biggest buyers of green energy? In 2020, it was Amazon, which bypassed Google and Facebook. These companies were followed by French oil giant Total, the Taiwan Semiconductor Manufacturing Company, and U.S. telecom Verizon. To learn more, read “Amazon Tops The 2020 List Of Corporate Renewable Energy Buyers.” Reading this article may require a subscription. 

Key Takeaways:

  • In its 2021 Corporate Energy Outlook, BloombergNEF reported that more than 130 companies in sectors ranging from oil and gas to big tech have inked clean energy deals and purchased 23.7 gigawatts of clean energy.
  • Amazon entered into 35 power purchase agreements in 2020 and has purchased 7.5 gigawatts of clean energy to date.
  • Sixty-five companies joined the RE100 in 2020, pledging to offset 100% of their electricity consumption with clean energy; there are 280 companies in all.
  • Forty-eight percent of Fortune 500 and 63% of Fortune 100 companies are promising to cut their greenhouse gases and increase their use of renewable energy or improve their energy efficiencies.

Path to 100% Perspective:

More corporations are realizing the benefits of investing in clean energy to expand responsibility, reliability, and flexibility. These companies are setting an ambitious example for others to follow as the path to 100% is seen as possible, practical, and financially feasible. Access to  clean energy resources on a global scale is making it easier for companies to set and work toward clean energy targets.

 

Photo by Abby Anaday on Unsplash.

Amazon Backs 26 Green Projects in Drive to Renewable Energy

At-a-Glance

Amazon.com Inc. made an announcement in December to say it was backing 26 new wind and solar utility projects around the globe, a massive investment that the company said made it the largest corporate buyer of renewable energy. The retail and technology company said the utility-scale projects, located in Australia, France, Germany, Italy, South Africa, Sweden, the U.K. and the U.S., would have the capacity to produce 3.4 gigawatts of electricity. To learn more, read “Amazon Backs 26 Green Projects in Drive to Renewable Energy.” Reading this article could require a subscription.

Key Takeaways

  • In 2019, Google was the largest corporate buyer of renewable energy and claimed the previous high water mark that year with a 1.6 gigawatt purchase in a single announcement.
  • “Amazon is helping fight climate change by moving quickly to power our businesses with renewable energy,” Amazon Chief Executive Officer Jeff Bezos said in a statement.
  • Amazon has said it aims to power its operations with renewable energy sources by 2025, five years ahead of an earlier target, and to become carbon neutral 15 years later.
  •  Including the new deals, Amazon has backed 127 wind and solar projects, with 6.5 gigawatts of capacity.

Path to 100% Perspective

Ambitious renewable energy goals make headlines every week, with some organizations competing for the title of energy leader. This form of competition is accelerating the path to decarbonization through strategic investments in emerging technologies and innovative ways to integrate renewable energy into business plans and power systems. As more organizations join forces to find solutions designed to decrease carbon emissions, the marketplace and utility sector are able to more easily visualize a renewable energy future on the horizon.

 

Photo by Bryan Angelo on Unsplash