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 June’s biggest stories below.
Renewable Energy News
How the Solar Industry is Responding to Xinjiang Sanctions and Rising Module Costs
The White House has taken action against five major PV component producers in China's Xinjiang region following mounting accusations of human rights abuses against the country's Uyghur Muslim minority, who have been forced against their will to produce materials including polysilicon; an essential component of solar modules. According to a recent survey of solar developers from LevelTen Energy, 73% of respondents plan to increase PPA prices as a result of recent solar module cost increases, which means PPA prices are likely to rise with further supply chain constraints. (Acceleration - LevelTen Blog)
White House Agrees to Bipartisan Deal with $73B in Power Grid Spending
President Joe Biden announced a deal for an infrastructure framework that will spend $73 billion on power infrastructure. The bipartisan framework will add $579 billion in new spending on a variety of infrastructure priorities, including thousands of miles of new transmission lines, and would create a new Grid Authority to oversee the power infrastructure upgrades. (Utility Dive)
Corporations Unite to Fund Climate Solutions
A collective of major corporations including Amazon, Google, Microsoft, and Disney are set to collaborate with the U.N. and other major environmental groups to scale funding for climate solutions. The Business Alliance to Scale Climate Solutions will act as a centralized forum where companies can collaborate on clean energy projects. (Axios)
RE100 Members' Demand Surpasses That of UK
Now with 310 companies in its membership, the total electricity demand of RE100 members has reached a combined 334 TWh of renewable electricity; greater than the entire electricity demand of the UK in 2020. (Business Green)
PPA Signings
Amazon Announces Several Utility-Scale Renewables Agreements; Further Cements Place as Largest Global Renewable Energy Buyer
Amazon has announced a slew of new renewable projects and utility-scale agreements, including a 375 MW solar farm in Alberta, a 52 MW Finnish wind project, and a 152 MW Spanish solar offtake; bringing its total renewable energy capacity to 10 GW globally. (Amazon)
Santee Cooper, Central Electric Power Cooperative Offtake South Carolina Solar Portfolio
Electricity provider Central Electric Power Cooperative Inc and utility Santee Cooper have signed PPAs to offtake 72.5% and 27.5%, respectively, of renewable output from a 425 MW portfolio of solar parks developed by Silicon Ranch and other developers in South Carolina. (Renewables Now)
Puget Sound Energy Enters Montana Wind PPA
Washington-based utility Puget Sound Energy has entered into a 20-year PPA with NextEra Energy Resources for 350 MW of clean energy generation from the Clearwater Wind Project in southeast Montana. (Seattle Times)
Duke Secures Three PPAs for Texas Solar Project
Charles River Laboratories International Inc. has entered into a 15-year PPA with Duke Energy Sustainable Solutions for 102 MW of solar production from the Pisgah Ridge Solar project in Navarro County, Texas. Two other unnamed corporations entered PPAs with Duke to offtake the remaining 148 MW from the 250 MW project. (Renewable Energy Magazine)
Recent Sustainability Commitments
Facebook Reaches 100% Renewables; Eyes Net-Zero Value Chain Emissions
Facebook announced it has achieved net-zero emissions and 100% renewable generation across global operations, and has set a new target of reaching net-zero emissions across its entire value chain by 2030. (Smart Energy Decisions)
Target Announces Comprehensive Sustainability Plans
Target has pledged to achieve net-zero emissions across operations by 2040, reach zero landfill waste in its U.S. operations, and to source 100% of its electricity from renewables by 2030. (Market Watch)
Colgate-Palmolive Ups Sustainability Goals
Consumer products company Colgate-Palmolive has announced new sustainability targets of reaching net-zero operations by 2040, and 100% renewable energy across global operations by 2030. (Smart Energy Decisions)
UPS Announces Carbon Neutrality Goals
UPS has pledged to be carbon neutral across Scope 1, 2, and 3 emissions by 2050, with interim goals of powering all company facilities with renewables, and reducing CO2 per package delivered 50%, by 2035. (Intrado GlobeNewswire)
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