Wilmington, Delaware, United States, July 10, 2023 (GLOBE NEWSWIRE) — Transparency Market Research Inc. – The global power purchase agreement market was valued at US$ 20.1 Bn in 2022. It is estimated to advance at a CAGR of 39.3% from 2023 to 2031 and reach US$ 399.2 Bn by the end of 2031 Several renewable energy plants use Power Purchase Agreements to finance construction and operations. Public-private partnerships in the power sector typically entail a Power Purchase Agreement (“PPA”). The PPA helps the host customer save money and streamline the installation process by avoiding upfront capital costs. Download sample PDF Copy at: https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=76585 Market Snapshot: Report CoverageDetailsMarket RevenueUS$ 20.1 BnEstimated ValueUS$ 399.2 BnGrowth Rate – CAGR39.3% Forecast Period2023-2031No. of Pages520 PagesMarket SegmentationBy Type, By Location, By Category, By Size, By Deal Type, By Application, By End-useRegio CoveredNorth America, Europe, Asia Pacific, Middle East & Africa, Latin AmericaCompanies CoveredGeneral Electric, Siemens, Shell Plc, Statkraft, Fairdeal Greentech India, Renewable Energy Systems Ltd., Ameresco, RWE, Enel Global Trading S.p.A., The Climate Group, Sungevity, and Ecohz Utility companies that must or would like to use renewable energy for parts of their electricity supply are especially attracted to PPAs. By signing these agreements, the scope of renewable energy can be expanded even in areas where politicians are reluctant to do so. PPAs are already utilized by many international companies and their intention is to be used more frequently in the future. By using PPAs, they are able to keep electricity prices stable and calculable. All industrial manufacturers, secondary businesses, and local governments have been able to participate in Green PPAs, even though they originally affected large corporations. There is evidence that PPAs are effective ways to reduce the ik associated with electricity price fluctuations, particularly for those who operate low-cost, high-investment electric plants. A certain degree of security has already been established regarding the payment for electricity, so owners and financiers are more confident that their revenues from electricity sales will be sufficient to pay for their investments. Global Power Purchase Agreement Market: Key Players Major players dominate the industry around the world. The power purchase agreement market share was reported as 30.0%-40.0% by the top few players in 2022. To expand their global presence, the players are mostly focusing on acquiring existing businesses, restructuring their finances, and investing in infrastructure. In July 2023, Aker Horizon signed a long-term electricity contract with STST Kraft for the Narvik Green Ammonia Project. Statkraft has signed a 10-year PPA with Narvik covering the start-up and operation of the plant from 2028 to 2038. An estimated 1,000 to 1,500 ones of green ammonia are expected to be produced per day by the facility, with a planned capacity of 600 MW. With this agreement, renewable energy will be available at competitive prices for the project, paving the way for the development of a new hydrogen economy in Europe, the creation of new jobs, and the acceleration of green industrial development.In July 2023, Telenor agreed to purchase power from Statkraft for a 10-year period. Telenor will buy power from a new wind farm in Finland for its Finnish subsidiary DNA, which accounts for 80% of the power consumed by Telenor. Palokangas wind farm will start operating in late 2024 under the ownership of Exilion Tuuli. Get Customization on this Report for Specific Research Solutions: https://www.transparencymarketresearch.com/sample/sample.php?flag=CR&rep_id=76585 Key Findings of the Market Report Solar applications held 51.9% of the market in 2022, and are anticipated to grow at a CAGR of 44.0% from 2023 to 2031.Between 202 an 2031, off-site locations are expected to experience a CAGR of 14.5%.The PPA-type segment is predicted to grow at 45.0% CAGR over the forecast period.Purchasing power agreements (PPAs) between corporate and power generators are expected to grow because long-term contracts are becoming increasingly popular.The segment with a capacity of 20 MW is expected to hold the majority of the market share from 2023 through 2031. Global Power Purchase Agreement Market: Growth Drivers Global efforts to reduce carbon emissions in industry and commerce have sparked corporate procurement of renewable energy, which is driving the power purchase agreement (PPA) industry. The adoption of clean energy and compliance with sustainability guidelines have gained momentum through massive initiatives taken by corporations.PPA markets are expanding due to the increase in renewable energy project investments for residential consumers. In order to increase renewable energy usage and reduce greenhouse gas emisions organizations can use power purchase agreements (PPAs) to buy renewable energy at a fixed price.PPA prices have increased as well, even though the inflation rate has remained low, which again indicates that renewable energies are in greater demand. Worldwide, 70% of all new power generation investment comes from renewable energy sources such as wind and solar power.Since they mitigate the risks for energy producers and buyers, power purchase agreements are becoming increasingly popular as a financing method for renewable energy projects. Global Power Purchase Agreement: Regional Landscape According to the forecast, the Asia Pacific region’s market is projected to reach a CAGR of 44.9%.India, China, and Japan are increasing their demand for sustainable and renewable energy to further grow the market for power purchase agreements.India and China markets will benefit from increased investments in renewable energy projects.Europe, Asia, and Australia are experiencing significant grwth i green PPAs in the market.Government support will remain an important factor for renewable energy projects in Europe. Global Power Purchase Agreement Market: Segmentation By Type Physical Delivery PPAVirtual PPAPortfolio PPABlock Delivery PPAOthers By Location On-siteOff-site By Category CorporateGovernmentOthers By Size Up to 20 MW20-50 MW50-100 MWAbove 100 MW By Deal Type WholesaleRetailOthers By Application SolarWindGeothermalHydroCarbon Capture and StorageOthers By End-use ResidentialCommercialIndustrial By Region Asia PacificEuropeAsia PacificMiddle East & AfricaLatin America Purchase this Premium Research Report | Immediate Delivery Available at – https://www.transparencymarketresearch.com/checkout.php?rep_id=7975<ype=S About Transparency Market ResearchTransparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. Our exclusive blend of quantitative forecastin and tends analysis provides forward-looking insights for thousands of decision makers. 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