amazon Takes Lead in European Renewable Energy Investments
Amazon has solidified its position as the top corporate buyer of renewable energy in the European market, demonstrating a notable commitment to enduring practices.
A surge in Investments
In the past year, Amazon has poured capital into 46 new renewable energy projects across Europe, encompassing countries like Spain, Portugal, Greece, Italy, and finland. This strategic expansion includes a mix of 26 standalone projects and 20 on-site projects, strategically distributed across the continent.
Spain emerges as a key hub for Amazon’s renewable energy investments with 17 projects, followed by Italy with 12. Greece and Finland each contribute three and two projects, respectively, showcasing Amazon’s diverse portfolio across Europe.
Total Impact: 9GW of Renewable Energy Capacity
This latest wave of investments brings Amazon’s total European portfolio to over 230 solar and wind projects, boasting an impressive combined capacity of 9 gigawatts (GW). This substantial contribution to Europe’s renewable energy landscape underscores Amazon’s aspiring goals for sustainability.
A Vision for a Greener Future
“As Europe’s top corporate investor in renewable energy, we will continue to work with governments, industry, and communities to unlock more of Europe’s renewable energy potential,” said Lindsay McQuade, director of energy, EMEA, Amazon.
Strategic Partnerships Fuel Growth
Amazon’s success is bolstered by strong partnerships with leading renewable energy suppliers. Iberdrola, a prominent player in the sector, has emerged as Amazon’s primary supplier, forging several Power Purchase agreements (PPAs) across the UK and Iberia.
A significant milestone in this partnership includes Amazon’s frist PPA in portugal with Iberdrola, securing energy from the Tâmega Wind Complex. This complex, slated for completion in 2027, is poised to become Portugal’s largest wind farm.
Expanding Horizons: Greece and Poland
Amazon’s renewable energy ambitions extend beyond Spain and Portugal. The company has also signed four PPAs in Greece, supporting three utility-scale wind projects.These agreements contribute to the progress of renewable energy infrastructure in Greece, further diversifying Amazon’s portfolio.
Moreover, Amazon ventured into Poland with an agreement to procure 53MW of energy from two wind farms owned by Vortex Energy, marking a significant expansion into a new market.
Global Leadership in Renewable Energy
Amazon’s commitment to sustainability transcends geographical boundaries. earlier this year, the company was recognized as the world’s largest corporate purchaser of renewable energy, according to data compiled by BloombergNEF.
This global leadership reflects amazon’s unwavering dedication to reducing its environmental footprint. The company has supported over 600 wind and solar projects around the world, with a particular focus on countries with high fossil fuel dependence.
A Call to Action for Sustainable Practices
Amazon’s exemplary investment in renewable energy serves as a powerful testament to the potential of corporate obligation. By leading the way in sustainable practices, companies can pave the way for a cleaner, more sustainable future for all.
