With corporate contracting for large-scale wind and solar projects in the US reaching a record 4.8 GW this year, a renewables boom is being driven by virtual power purchase agreements (VPPAs). A VPPA procurement met all of Cummins' requirements. These deals, contrasted with physical agreements, allow corporate buyers to focus on preferential projects, either for cost or environmental reasons. While physical PPAs deliver energy to the local grid, VPPAs can be tailored to specific territories where appealing market prices can be achieved. The growth of these deals has been fuelled by rising demand from both consumers and businesses.
With corporate contracting for large-scale wind and solar projects in the US reaching a record 4.8 GW this year, a renewables boom is being driven by virtual power purchase agreements (VPPAs). These deals, contrasted with physical agreements, allow corporate buyers to focus on preferential projects, either for cost or environmental reasons. While physical PPAs deliver energy to the local grid, VPPAs can be tailored to specific territories where appealing market prices can be achieved. The growth of these deals has been fuelled by rising demand from both consumers and businesses.