Google Tops Green-Energy Buys, BlackRock Seen Jogging New Growth
- Led by tech, corporate contracts for renewables up 40% in 2019
- Companies, public institutions bought record 19.5 gigawatts
Photographer: Krisztian Bocsi/Bloomberg
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U.S. tech giants including Alphabet Inc.’s Google led the way as corporations raised the amount of clean energy they bought in 2019 by about 40%. Moving forward, peer pressure by asset managers led by BlackRock Inc. could boost it even more.
Corporations and public institutions globally acquired a record 19.5 gigawatts of clean energy through long-term power-supply agreements in 2019, easily beating a record set in 2018, according to a report Tuesday by BloombergNEF. Google topped the list with contracts for more than 2.7 gigawatts, roughly equaling the power of three nuclear reactors.