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Europe’s Energy Crisis Dampening Corporate Deals for Clean Power

  • Companies signing up for less clean energy this year
  • Supply snarls for renewables also contributing to slower year
wind power
Photographer: Krisztian Bocsi/Bloomberg

Europe’s energy crisis and supply-chain bottlenecks have contributed to a sharp slowdown in the amount of solar and wind power that corporations have agreed to buy worldwide.

Private enterprises and public institutions announced 14.8 gigawatts of new power-purchase agreements with clean-energy facilities in the first seven months of this year, according to a report Wednesday by BloombergNEF. That’s 24% below 2021 levels through July, making the year poised to see the first annual decline since 2016.