GHG Protocol uncertainty cut corporate PPA volumes 10% in 2025
Pending scope 2 accounting changes are causing buyers to pause, even as individual deals keep closing across Europe.
By Matthias Blank · drafted with the Vantage newsroom system, approved before publication
Corporate PPA volumes dropped 10% in 2025, and Renewabl CEO JP Cerda points directly at stalled GHG Protocol negotiations over scope 2 accounting. Buyers are deferring commitments until the rules on annual versus hourly matching are settled. Cerda says a confirmed shift to hourly matching would push battery storage to the centre of PPA structuring, as assets capable of shaping delivery profiles gain value.
Despite the market-wide slowdown, deal flow in the final week of June shows corporate and utility offtakers still executing. Uniper locked in 100 MW of German Baltic offshore wind from Skyborn's Gennaker project. Enviromena secured EDF as offtaker for more than 150 MW across three UK solar sites. Amazon added 90 MW of Scottish onshore wind via the Chirmorie/Egg Power project, consistent with its continued European renewable procurement pace.
The tension between a cooling headline market and active deal pipelines reflects two dynamics running in parallel: large buyers pausing to avoid locking into accounting frameworks that may change, while projects with ready offtakers close regardless. How the GHG Protocol revision lands will likely determine whether 2026 sees a volume recovery or a second consecutive annual decline.
Source: pv magazine
Photo by cottonbro studio on Pexels.
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