At LevelTen, we want important news and information concerning renewable transaction infrastructure (RTI), power purchase agreements, and new sustainability commitments to be easily accessible to everyone. Each week, we assemble the stories that matter most in our “RTI Weekly” newsletter, which you can subscribe to here. We’ve collected April’s biggest stories below.
Renewable Energy News
Department of Energy to Allocate Billions for Grid Modernization
The DOE has announced it will make more than $8 billion in loans available for transmission projects, split between $5 billion for "innovative transmission projects" such as offshore wind, and $3.25 billion for the Western Area Power Administration's (WAPA) transmission infrastructure fund. (Utility Dive)
Biden Pledges Dramatic U.S. Emissions Cuts
During a virtual international summit hosted by the U.S., President Joe Biden pledged that the United States would cut emissions in half by 2030, as compared to 2005 levels. Several other countries, including China, Canada, Japan, and Brazil, also announced new sustainability commitments during the summit. (NPR)
Globe Shatters Renewable Energy Additions Record in 2020
Despite the economic challenges presented by the COVID-19 pandemic, the world added more than 260 GW of renewable energy in 2020; nearly 150% of 2019's clean energy additions. (IRENA)
PJM Asks FERC to Eliminate MOPR
The PJM Interconnection has asked that the Federal Energy Regulatory Commission (FERC) remove the Minimum Offer Price Rule (MOPR) imposed in December 2019, which effectively pushes renewable resources out of capacity market auctions and consequently hinders the growth of renewable development in impacted states. (Utility Dive)
LevelTen Releases Q1 2021 North America and Europe PPA Price Index Reports
The Q1 LevelTen Energy PPA Price Index reports reveal that wind prices in North America declined in Q1 after a long rising trend, while Q1 European PPA prices remained quite stable. Download the full reports here.
PPA Signings
Amazon Announces 9 PPAs Across North America and Europe
Amazon has announced nine new wind and solar projects spanning Canada, the U.S., Spain, Sweden, and the U.K., making it officially the largest corporate purchaser of renewable energy in Europe. (Amazon)
Daimler and Statkraft Sign Renewable PPA
German automotive giant Daimler has entered into a PPA with Norwegian utility Statkraft to power their offices and manufacturing facilities with wind, solar, and hydro power 24/7. (Recharge)
Merck Announces 3 New PPA Signings
Pharmaceutical giant Merck has announced three PPAs, including the 200 MW Armadillo Solar Center signing with Ørsted in Texas, and a 15-year agreement with EDP Renewables for a 40 MW wind farm in Spain. (Environmental Leader)
Hershey, Home Depot, and NRG Sign Solar PPAs
The Home Depot and NRG have each signed for 100 MW of solar power from the Noble Project in Denton County, Texas, while The Hershey Company has contracted for 50 MW of the project's generation. (PR Newswire)
Recent Sustainability Commitments
JP Morgan and Citi to Commit Trillions to Climate Solutions
JP Morgan has announced it will commit $2.5 trillion over the next ten years towards advancing renewables and sustainable agriculture among other investments, while Citigroup has stated it will commit $1 trillion in "sustainable finance" by 2030. (Axios)
Yum Brands Sets Emissions Goals
Yum Brands, which includes subsidiaries Taco Bell, KFC, and Pizza Hut, has announced plans to cut GHG emissions 46% by 2030, and reach net-zero emissions by 2050 across affiliated franchises, suppliers, and producers. (Restaurant Dive)
Honeywell Sets Sights on Being Carbon Neutral by 2035
Honeywell has pledged to be carbon neutral in its facilities and operations by 2035. (Honeywell)
Honda Announces Carbon Neutrality Target
Honda has announced its goal of achieving carbon neutrality for all corporate activities and products by 2050, and that it will produce exclusively battery-electric and fuel cell electric vehicles by 2040. (PR Newswire)
125 Cities Join Global Commitment to Reach Net Zero
A further 125 mayors from around the globe have committed their cities to cutting emissions in half by 2030, and reaching net-zero emissions by 2050 as part of the C40 initiative. (c40.org)
Would you like stories just like these sent directly to your inbox each Friday? Then be sure to subscribe to LevelTen Energy’s “RTI Weekly” newsletter so you never miss a beat!
