Industry initiative consults on corporate PPA template, aimed at boosting knowledge and new renewable generation

An industry-funded initiative that kicked off earlier this year is requesting market feedback on a proposed template for corporate power purchase agreements (PPAs), prepared for use in New Zealand's electricity market.

The initiative, led by BusinessNZ Energy Council (BEC), EVA Marketplace and DLA Piper, launched the consultation process this week and will be accepting submissions on the template until 19 December 2025.

The corporate PPA template was developed and refined by an expert working group of 18 industry organisations that includes independent generators, generator‑retailers, large energy users, government organisations and others capturing key stakeholder perspectives.

"Corporate PPAs offer a significant opportunity to boost renewable electricity generation, helping to accelerate New Zealand towards a more secure, affordable and sustainable energy system," says BEC's Ben Young.

"BEC is proud to support this industry collaboration which aims to increase the uptake of corporate PPAs by improving awareness and developing new tools, such as a readily available legal template, to make PPA transactions faster, fairer and cheaper."

The template drafting is led by DLA Piper's New Zealand energy team, including specialist input from colleagues in the UK and Australia on global trends in PPAs, ensuring the template is developed for the local energy market and also consistent with international best practice. The expert working group are considering relevant local PPAs as well as international examples, including those produced by Energy Traders Europe and the I‑TRACK Foundation.

"DLA Piper is well‑known for its market‑leading energy transition and PPA expertise globally. This initiative allows us to combine that international expertise with deep local energy market knowledge and provide our support for the growth of Aotearoa's emerging PPA market," says DLA Piper partner Rob Macredie.

"Templates can provide a balanced starting point for parties' negotiations, making PPAs more accessible, particularly for corporate businesses who may be less experienced with the use of PPAs as part of their energy procurement strategy."

Corporate PPAs are playing an increasingly important role in the energy transition. Globally, corporate PPA deals grew by 35 % to ~60 GW in 2024, mostly driven by US tech companies, according to the Financial Times. In NZ, deals are gaining early momentum, as shown in the PPA tracker recently published by EVA Marketplace.

New Zealand's high electricity prices mean more businesses are seeking PPAs for long‑term cost certainty and cost savings. There is also a growing understanding that, alongside onsite renewables like rooftop solar, PPAs with yet‑to‑be‑built, offsite renewables can have a greater impact on reducing system emissions than other energy supply arrangements, as highlighted by the UK Green Building Council and the New Climate Institute.

EVA Marketplace, Aotearoa's marketplace for renewable PPAs, instigated this initiative in an effort to reduce barriers to entering the PPA market.

"New Zealand has limited large‑scale buyers of electricity so we must demystify PPAs for smaller businesses," says EVA Marketplace's Paul Coster.

"In addition to a template PPA, the Initiative is also developing a guide to corporate PPAs which will be a valuable knowledge resource, facilitating a faster uptake and supporting general understanding of the concept."

While the template and guide are targeted at corporate PPAs, they can also be applied to other types, including government PPAs.

"It was pleasing to see government PPAs form part of the recent energy package, including the Energy RFI. Altering government procurement practices to support new renewables is a common‑sense decision which supports our legislated emissions goal of net zero emissions by 2050," says Young.

Organisations and individuals interested in participating in the corporate PPA consultation are encouraged to reach out to Ben Young at byoung@businessnz.org.nz.

Feedback on the corporate PPA template will be considered by the expert working group with a view to finalising the template and guide early next year. They will be made publicly available, and free to download, on EVA Marketplace's website.