Engie expects half its new renewables projects from PPA deals

French gas and power group Engie expects that half of its new renewable energy projects in 2019-2021 will come from power purchase agreements (PPAs) with companies or municipalities.

As costs and subsidy levels for wind and solar drop, a growing number of government renewable energy projects are being awarded through competitive bidding.

Engie and other renewable energy developers are increasingly signing PPA contracts with big companies and cities.

Engie expects to develop some 4.5 gigawatts of renewables projects through PPA contracts over the three-year period – out of a total development portfolio of 9 GW – as those contracts become more profitable.

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