Around 60 U.S. companies, including Facebook and Microsoft, and several environmental groups are forming a new alliance, called the Renewable Energy Buyers Alliance, aimed at developing 60 GW of renewables by 2025.
The companies said the alliance is being formed to knock down barriers they say they face with utilities and regulators in their goals to reduce carbon emissions. The group cited the inefficency of power purchase agreements in procuring renewables for smaller companies.
The alliance aims to bundle up power purchase agreements, connect generators and buyers, and persuade policymakers of the economic benefits of new investments in renewables, according to the Financial Times.
