BNEF reports 12% surge in Corporate Clean Energy Purchases 2023

21 Feb 2024 CW Team

According to the Corporate Energy Market outlook for the first half of fiscal year 2024 by Bloomberg New Energy Finance (BNEF), corporations revealed a groundbreaking 46 GW of solar and wind contracts in 2023. This marked a 12% year-over-year increase from the 41 GW reported in 2022.

It was stated that companies' clean energy objectives were the driving force behind the surge in these record contracts. The commitment of companies to clean energy goals was the primary catalyst for the remarkable increase in contracts.

In 2023, 45%, equivalent to 20.9 GW of power purchase agreements (PPA), were declared in the Americas, with Europe trailing closely behind at 33%, amounting to 15.4 GW.

Kyle Harrison, Head of Sustainability Research at BloombergNEF, mentioned, "It has never been easier to buy clean energy as a corporation. For the first time, a variety of contracting structures are now widely available around the world to help companies decarbonize their energy consumption. These contracts are now the centerpiece in many companies? sustainability strategies, rather than a nice-to-have."

The most attractive market in Europe was emphasized, with the region experiencing significant growth from 2022 to 2023. Corporate PPA volumes in Europe surged by an impressive 74% to reach 15.4 GW during this period. This growth was attributed to the alleviation of supply chain obstacles and the normalisation of gas balances after the energy crisis in 2022. The drop in corporate PPA prices during that crisis made European markets economically appealing for entering into deals. Notably, Germany, Spain, the United Kingdom, and the Netherlands alone accounted for more than half of the deals announced in the European region in 2023.

Infrastructure Transport

15 Jul 2026

Railways To Operate Over 300 Special Trains For Rath Yatra

Union Railway Minister Ashwini Vaishnaw announced that Indian Railways (IR) will operate more than 300 special trains for the annual Jagannath Rath Yatra in Odisha and over 100 special trains during the Onam festival in Keralam. He flagged off the Nanded–Mumbai and Tanakpur–Nanded Express trains and inaugurated the extension of the Tanakpur–Pilibhit service up to Shahjahanpur via video conference from Rail Sadan in Bhubaneswar. He noted that the summer season, which concluded on 30 June, had seen a record 15,000 special trains. Vaishnaw stated that the newly launched services are intende..

Vande Bharat Express To Start From Tripura Soon

Tripura Chief Minister Manik Saha said the Vande Bharat Express will commence operations from Tripura in the coming days after he flagged off the Agartala–Karimganj MEMU service at Agartala Railway Station. He recalled the rail history of the state, noting that a metre-gauge service first arrived in 1964 and that broad gauge reached Agartala in 2008 following national projects and later upgrades under the Act East policy. The event was described as a milestone for regional connectivity and the MEMU was presented as the first electric passenger train to originate from Tripura.\n\nSaha said he..

MEMU Suspension Disrupts Commuters Between Vadodara And Dahod

The Vadodara–Dahod Mainline Electric Multiple Unit (MEMU) service has been temporarily suspended for 26 days after its rake was diverted to Odisha to manage the surge in passenger traffic during the annual Rath Yatra in Puri. Indian Railways redeployed several MEMU rakes from different zones to meet the additional travel demand for the festival scheduled from the seventh of July to the second of August. As a result, train numbers 69233 and 69234 operating between Vadodara and Dahod will remain cancelled for the duration. Railway authorities advised passengers to use alternative train service..