“Renewable energy demand among large U.S. companies is significant and growing quickly, according to a December analysis by the Advanced Energy Economy (AEE), a clean energy trade group. The report found that 71 of Fortune 100 companies have set renewable energy or sustainability targets, up from 60 just two years ago. Twenty-two Fortune 500 companies have committed to sourcing 100 percent of their electricity needs from renewables, including Walmart, Apple, General Motors and Amazon. Alphabet’s Google expects to be powered entirely by clean energy this year.
“Traditionally speaking, midsize companies such as Akamai have found the process of negotiating contracts for renewable energy daunting. For one thing, they often do not need all the energy generated by large-scale renewable energy projects. Or their power needs might be spread across more than one region, further diluting their purchasing influence.
“The structure of Akamai’s deal, a virtual power purchase agreement, offers one way to resolve that challenge, said Nicola Peill-Moelter, Akamai’s senior director of environmental sustainability, in an emailed response to a request for comment.”