Focus on Europe: will hold the first 10TWh enterprise power purchase agreement tender

BayWa R.E. said it will issue Europe's first developer-initiated corporate PPA tender, with electricity coming from a portfolio of renewable energy projects in Germany and Spain.

Capacity is expected to be shared among several underwriters, who will receive 10-year contracts.

Companies face soaring prices and growing uncertainty to meet climate commitments. Daniel Parsons, PPA director at BayWa R.E., says renewable energy is "the only answer."

"Long-term PPA contracts are a key tool for delivering reliable power and more renewable energy projects. It is great that we are now able to introduce a tender process for the company's PPA in Spain and Germany."

The tender is scheduled for fall 2022, and the full terms of the tender are currently being finalized. BayWa R.E. will share more information later this year.