German renewable energy company BayWa re plans to issue a tender for 10TWh worth of corporate power purchase agreements (PPAs) over ten years later this year.

The green energy will be sourced from projects in Germany and Spain.

BayWa re PPA head Daniel Parsons said: “This is truly an unprecedented time for energy markets across Europe.

“Corporates are facing price spikes and increasing uncertainty, and at the same time, they want to play an active role in tackling the climate crisis.

“Renewable energy is the only answer, and long-term PPA contracts are a key tool to achieve reliable electricity supply and to enable more renewable energy.

“It’s brilliant that we’re now able to introduce a tender process to our PPAs in Spain and Germany.”

BayWa re said that it is witnessing a ‘huge’ demand for renewable energy from corporates across the globe, especially in the Europe, Middle East and Africa (EMEA) region.

The company has already signed agreements with major global corporations such as AB InBev , Nestlé and HeidelbergCement in Europe.

BayWa re is currently finalising the terms and principles of the tenders and will disclose the information later this year.

BayWa re Solar Projects global director Benedikt Ortmann said: “We want to make green electricity as accessible as possible.

“Our PPA tender is promoting the energy transition for commercial and industrial customers, which are on the lookout for affordable and reliable green energy supply.”

Last January, BayWa re sold four of its German wind farms, namely Haltern-Sythen, Finkenbach-Gersweiler, Bedesbach and Bruchwald, to Encavis Infrastructure Fund II .

Earlier this year, the company secured the rights to develop a 960MW floating wind farm offshore from Scotland in partnership with Elicio and BW Ideol .

The companies will build the project in the NE8 development area designated under the Scottish Government’s Sectoral Marine Plan for Offshore Wind.