Engie topped developers in 2025 corporate clean-energy power purchase agreements with 3.6 GW contracted globally, mostly solar, according to BloombergNEF data. The year’s total of 55.9 GW across 712 offsite deals marked a 10% drop from 2024 yet ranked as the second-highest on record.

AI-fueled electricity needs from U.S. tech leaders kept momentum alive. Meta, Amazon, Google and Microsoft handled 49% of activity worldwide. The Americas region dominated with 32.1 GW signed, including 29.5 GW in the United States. That figure edged up 0.5% from 2024 levels.

Europe, the Middle East and Africa tallied 17 GW, down 13%. Asia Pacific managed 6.9 GW, a 35% plunge. Nayel Brihi, BloombergNEF corporate energy analyst, pinned the slowdown on U.S. policy uncertainty, negative power prices in parts of Western Europe and doubts over carbon accounting rules.

"It’s a cocktail of the above," Brihi told pv magazine. Negative prices introduced risks corporate buyers hadn’t fully anticipated. Policy shifts and market pressures slowed deals in affected areas.

BloombergNEF tracks publicly disclosed or submitted offsite corporate PPAs lasting over one year. Eligible clean sources cover solar, wind, hydro, biomass, geothermal and nuclear. It excludes gas with carbon capture and unpaired battery storage.

In the U.S., unique companies signing deals halved to 33 from 68 in 2024. Big Tech filled the gap. Brihi pointed to tariff policies, the One Big Beautiful Bill Act’s energy tax credit changes and rising business costs as drags.

Asia Pacific’s drop stemmed from missing mega-deals like Rio Tinto’s over 2 GW across two Australian PPAs in early 2024. Policy wobbles hit India and South Korea. Still, Brihi stayed upbeat. BloombergNEF’s India team pegs actual volumes above public figures. Malaysia rolls out new frameworks. Japan’s market matures. Australian demand holds firm.

Europe showed mixed results. The United Kingdom and Finland hit records. Poland and Italy saw upticks—Italy at gigawatt scale. Hybrid PPAs pairing solar and wind gained traction there.

Developers pushed firm power options. Seven of the top 10 sellers offered "baseload-like" products—solar-plus-storage, solar-wind mixes or nuclear—totaling 5.2 GW. "We’re seeing a transition from standalone products to hybridized or structured solutions," Brihi said. Pricing will dictate the pace.

Solar stayed king despite hybrids. "Solar remains the main procurement option globally, especially in newer markets without negative power prices," Brihi noted.

The findings come from BloombergNEF’s "1H 2026 Corporate Energy Market Outlook: Cooling Off But Not Out" report.