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February's Can't-Miss Clean Energy Stories

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 February's biggest stories below.

Renewable Energy News

Russian Invasion of Ukraine Shakes Energy Markets

Global energy markets continue to react as Russia’s invasion of Ukraine creates significant uncertainty around Europe’s access to natural gas amid an already strained supply. As the tragic humanitarian toll of the conflict continues to mount, the repercussions of the crisis on energy markets have also been substantial, with oil prices rising higher than $100 per barrel and natural gas futures on the Dutch TTF exchange spiking by 40%. As the U.S. and Europe apply increasingly severe sanctions on Moscow, and with Europe reliant on Russia for 40% of its natural gas supply, the crisis has added substantial uncertainty to global energy markets as the situation highlights the vulnerabilities posed to Europe by its dependence on foreign fossil fuel imports. (Axios)

Germany Sets Accelerated All-Renewables Timeline

In light of Russia’s invasion of Ukraine, Germany — which sources more than half of its natural gas from Russia — has moved forward its target year for achieving an all-renewables electrical grid to 2035: 15 years sooner than its original 2050 goal. The German Economy Ministry’s new legislation would see annual wind installations increase from 3 GW today to 10 GW by 2027, annual solar installations increase from 7 GW to 20 GW by 2028, and for offshore wind capacity to reach 30 GW by 2030 and 70 GW by 2045. With Germany’s three remaining nuclear reactors set to go offline this year, the country now plans to lean more heavily on coal through 2030 as its grid transitions to renewable resources. (Bloomberg)

Biden Administration Modifies, Extends Solar Imports Tariffs

After months of speculation, the Biden Administration has officially extended the Trump-era tariffs on solar component imports, but with significant caveats. The tariffs will be extended by an additional four years, but will not apply to bi-facial panels — the dominant panel technology used by U.S. solar developers. The tariffs will also only activate once an import allowance of 5 GW has been reached, up from the original threshold of 2.5 GW. (Reuters)

Pentagon Issues RFI to Advance 24/7 Carbon-Free Energy Goals

The U.S. Department of Defense has issued a Request for Information to renewable energy developers to support the Pentagon’s goal of supplying its facilities with 24/7 carbon-free energy. DOD facilities represent 77% of the federal government’s total electricity consumption, and the RFI will help provide the necessary information on renewable prices, where clean energy is produced, and other data the DOD will use to procure renewable power. The Pentagon’s efforts will significantly advance the White House’s goal of powering federal facilities with 100% zero-carbon electricity by 2030, with 50% of that supply meeting demand on a 24/7 basis. (Bloomberg Law)

U.S. Reaches 200 GW of Renewable Capacity Despite Slower 2021

The American Clean Power Association (ACP) has found that the U.S. added 27.7 GW of new renewable capacity during 2021, and now has more than 202 GW of total clean energy capacity — despite 2021's rate of growth being 3% lower than the year prior. 28 GW of renewable PPAs were signed during 2021, with 14 GW of those being signed by corporate offtakers, marking the first time corporate procurements outpaced those of utilities. However, the ACP made clear that 2021’s rate of renewable build-out is only 45% of the annual pace required to fully decarbonize the electrical grid by 2035. (Renewables Now)

PPA Signings

Scotiabank Signs Albertan Solar Agreement

Canadian bank Scotiabank has entered into a 15-year PPA with Evolugen, a subsidiary of Brookfield Renewable Partners, for the entirety of capacity produced by the 40 MW Spring Coulee Solar facility in Alberta. (MarketWatch)

Bosch Enters German Solar PPA

German engineering company Bosch has entered into a 15-year PPA with developer Energiekontor to offtake capacity from two planned German wind farms with a combined capacity of 70 MW. (PV Magazine Germany)

AT&T To Buy Solar from Maryland, Pennsylvania Facilities

Telecommunications company AT&T has entered into a PPA with energy trader Vitol for 155 MW of total solar capacity from the 80 MW Bluegrass facility in Maryland’s Queen Anne's County, and the 75 MW Swiftwater project in Pennsylvania’s Monroe County. (PV Tech)

Borealis Inks Finnish Wind Deal

Chemicals company Borealis has signed a 8-year PPA with developer Fortum for 800 GWh of clean electricity sourced from the Pjelax-Böle and Kristinestad Norr wind parks in Finland, which have a combined annual output of 1.1 TWh. (

Apliq Enters Finnish Wind PPA

Swiss energy provider Alpiq has entered into a PPA with developer Merkkikallio Wind Oy, a subsidiary of Renewable Power Capital, for clean energy supply produced by the 82.5 MW Merkkikallio wind farm in Finland’s Southern Ostrobothia region. (Renewable Energy Magazine)

Recent Sustainability Commitments

SAP Accelerates Net-Zero Commitment

German software company SAP has moved its target date for net-zero value chain emissions to 2030 — 20 years earlier than its original 2050 target. (Smart Energy Decisions)

bp Moves Net-Zero Dates Forward

British oil and gas giant bp has updated its sustainability goals and will now aim to reach net-zero emissions across its operations, production, and sales by no later than 2050, and will work to reduce operational emissions 50% by 2030. (Smart Energy Decisions)

HSBC Lays Out 2030 Ambitions

Banking giant HSBC has announced its goal of reducing absolute emissions associated with loans made to oil and gas clients 34% by 2030. (Reuters)

JDE Peets Announces Sustainability Commitments

Beverage giant JDE Peets has announced Science Based Targets initiative (SBTi)-approved goals of reducing absolute Scope 1 and 2 emissions by 25%, and absolute Scope 3 emissions by 12.5% by 2030, compared to 2020 levels. (Globe Newswire)

Georgia Power Unveils 2022 IRP

Utility Georgia Power has unveiled its 2022 Integrated Resource Plan (IRP), which includes plans to add 6 GW of renewable generation by 2035, in addition to the retirement of 3.5 GW of coal generation by 2028. (PR Newswire)

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! 

LevelTen Energy

LevelTen Energy is the leading provider of renewable transaction infrastructure, delivering the marketplaces, software, automated analytics, and expertise required to accelerate clean energy transactions. The LevelTen Platform is the world’s largest online hub for renewable energy buyers, sellers, advisors, asset owners and financiers. The Platform includes the LevelTen Energy Marketplace, which delivers access to more than 4,500 power purchase agreement price offers spanning 28 countries in North America and Europe. It also includes the LevelTen Asset Marketplace, which brings together over 800 renewable energy project developers and owners, and delivers the online tools and expertise they need to buy, sell and finance assets quickly. Together, LevelTen and its partners share #OneGoal to accelerate the energy transition.

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