Industry alliance says corporate demand 'key' to achieving EU 2030 renewable energy target

Growing interest from major companies in using green electricity will play a major part in the EU reaching its goal of getting 32% of the energy it uses from renewable sources by 2030, an alliance of multinational firms and the wind and solar power industry said on Wednesday.

The RE-Source platform – supported by the European Commission and including multinationals such as Ikea, Danone, Amazon and Microsoft – aims to promote the use of power purchase agreements (PPA's) to provide revenue for renewable energy firms and allow corporates to bolster their green credentials.