The COVID-19 pandemic proved to be a significant disruption for many corners of the global energy industry, but the corporate renewables market plowed ahead as if nothing had happened. S&P Global Market Intelligence tracked over 20,000 MW of new corporate wind and solar capacity throughout the year, making 2020 the most active year yet in the rapidly growing segment.
Tech leaders setting the pace
Leading the charge were technology and telecommunications companies, which saw their demand increase due to distancing and stay-at-home mandates worldwide. Internet retail and web services provider Amazon.com Inc. became the leader in corporate renewable capacity in 2020 after signing agreements for nearly two dozen new wind and solar projects around the globe. Amazon added 6,000 MW of new wind and solar capacity over the year for a cumulative total of 8,500 MW of renewable capacity, including on-site renewable generation.