For nearly a decade, global companies have been racing to buy clean energy from wind farms, solar parks, and other green power projects. But 2025 marked the first decline in this trend in almost ten years — a surprising shift that signals a changing landscape for corporate sustainability.

The latest report from BloombergNEF (BNEF) shows that corporate clean energy purchasing dropped about 10% in 2025, falling from roughly 62.2 gigawatts (GW) in 2024 to 55.9 GW last year.

Let’s break down why this happened, what it means, and how the market could evolve in the coming years.

Clean Energy Buying: The Big Picture

Corporate clean energy buying usually happens through power purchase agreements (PPAs). They are long-term contracts where companies agree to buy electricity directly from renewable energy projects, often wind or solar farms.

For years, this was one of the fastest-growing parts of the clean energy market. Companies like Google, Amazon, Meta, and Microsoft drove most of the demand, helping build huge amounts of renewable capacity. But 2025 interrupted that streak.

Even though 55.9 GW is still one of the largest annual totals ever, the fact that it is lower than the year before shows a real shift in how companies approach renewable energy deals.

Why Corporate Clean Energy Buying Fell

There are several reasons why corporate clean energy buying slowed in 2025:

Corporate buyers are sensitive to electricity market rules and government policies. In many regions, uncertain policy environments made it harder to finalize long-term clean energy contracts. In the United States, for example, uncertainty about future clean energy incentives and carbon accounting standards caused many smaller corporations to hold off on signing new deals.

In some power markets, especially in parts of Europe, there were long hours of negative electricity prices. This happens when supply exceeds demand and power becomes so cheap that producers pay buyers to take it.

These price swings make standalone solar and wind contracts less attractive, especially for companies that want predictable, long-term value from their clean energy purchases.

Dominance of Big Tech

Another key point in the BloombergNEF findings is that the market is becoming more concentrated. As said before, four major tech firms, like Meta, Amazon, Google, and Microsoft, signed nearly half of all clean energy deals in 2025.

Meta and Amazon alone contracted over 20 GW of clean power last year, including deals that cover not just solar or wind, but also nuclear power — something unusual in past corporate PPA markets.

While this heavy concentration helps maintain volume, it also means that smaller companies are scaling back, which lowers the total number of buyers and contributes to the overall slowdown.

• READ MORE: Clean Energy Investment Hits Record $2.3T in 2025 Says BloombergNEF: What Leads the Surge?

Regional Differences: Where Things Slowed and Where They Didn’t

Corporate clean energy markets didn’t all move in the same direction last year. Bloomberg’s data shows clear regional patterns:

United States

The U.S. remained the largest single market for corporate clean energy deals, signing a record 29.5 GW of commitments. Much of this came from major technology companies looking to match their growing electricity needs with zero-carbon power sources.

Yet despite these high numbers, the number of unique corporate buyers in the U.S. dropped by about 51%, as many smaller firms pulled back from signing new PPAs.

Europe, Middle East & Africa (EMEA)

In the EMEA region, corporate PPAs fell around 13% in 2025, slipping back to levels closer to 2023. In Europe, in particular, rising negative prices and unstable policy conditions discouraged many new deals.

Asia Pacific

Asia had a mixed story. Some markets like Japan and Malaysia continued to attract corporate clean energy buyers, thanks to mature PPA markets and supportive regulations. But slower activity in countries like India and South Korea contributed to a drop in total volumes in the region.

The Rise of Hybrid and Firm Power Deals

One interesting trend that emerged in 2025 is that companies are looking beyond just wind and solar. Because of the limitations with standalone renewable deals, many buyers are now exploring hybrid power contracts that mix renewables with storage, or even nuclear and geothermal sources.

Hybrid deals like solar paired with battery storage give companies more reliable power and help manage price and supply risks. BloombergNEF tracked nearly 6 GW of these hybrid agreements in 2025, and expects this share to grow.

• According to a report by SEIA and Benchmark Mineral Intelligence, the United States added a record 28 gigawatts (GW) / 57 gigawatt-hours (GWh) of battery energy storage systems (BESS) in 2025. It reflected a 29% year-over-year increase.

Cheaper battery costs are part of this trend. Recent data shows that the cost of four-hour battery storage projects fell about 27% in 2025, reaching record lows. This makes storage-based renewable contracts more financially compelling.

Big Companies Still Push the Market

Even with the overall slowdown, corporate clean energy buying remains strong, especially among large technology firms.

In fact, while smaller companies took a step back, the major tech buyers helped keep total volumes near all-time highs. In other words, the market didn’t crash; it just shifted shape.

This becomes even clearer when we look at individual company progress. Microsoft reported recently that it now matches 100% of its global electricity use with renewable energy, an achievement that required decades of energy contracts and partnerships.

The Clean Energy Market Is Resetting, Not Retreating

The IEA projects that renewables will provide 36% of global electricity in 2026. This shows that the energy transition is moving forward, even if corporate clean energy purchases dipped in 2025. The slowdown does not signal failure. Instead, it reflects a market that is adapting as companies, technologies, policies, and economics evolve together.

Growth in corporate renewable deals is not always steady. A single year of lower volumes does not erase the gains of the past decade. Instead, it highlights the natural adjustments markets go through as strategies shift and conditions change.

In this transitioning phase, policy and regulation remain critical. Clear rules, incentives, and supportive frameworks encourage smaller companies to participate. Additionally, regions that provide stability, such as parts of the Asia Pacific, are seeing continued growth in corporate clean energy demand.

In conclusion, even with the dip in 2025, corporate renewable energy purchasing is far larger than it was ten years ago. The market is shifting rather than shrinking, and companies continue to find ways to power growth with clean energy. This slowdown may serve as a wake-up call, encouraging smarter, more flexible strategies that can sustain the energy transition for years to come.

• ALSO READ: Renewables 2025: How China, the US, Europe, and India Are Leading the World’s Clean Energy Growth

The post Meta, Amazon, Google, and Microsoft Dominate Clean Energy Deals as Global Buying Slips in 2025 appeared first on Carbon Credits.

Surge Battery Metals (TSX-V: NILI | OTCQX: NILIF | FRA: DJ5C) delivered two strong updates from its Nevada North Lithium Project (NNLP) in February 2026. Together, these results confirm expansion potential, reinforce high-grade continuity, and advance technical work needed for the upcoming Pre-Feasibility Study (PFS).

On February 17, Surge reported a major step-out success. The company drilled a 31-meter intercept grading 4,196 ppm lithium from surface in a hole located 640 meters southeast of the existing resource boundary. This intercept sits well above the current resource average grade of 3,010 ppm lithium. The wide step-out confirms that high-grade mineralization extends significantly beyond the defined resource footprint.

Just one week later, on February 25, Surge released the final batch of results from its 2025 core drilling program. These infill holes focused on upgrading inferred resources to higher confidence categories and collecting technical data for the PFS. The results returned some of the strongest intercepts drilled to date.

Together, these two updates strengthen the project’s scale, quality, and development readiness. 

Infill Drilling Confirms a Thick, High-Grade Core

The February 25 news highlighted Hole NNL-030 as a standout result. The hole intersected 116 meters, averaging 3,752 ppm lithium. Within that interval, a 32.1-meter zone graded 4,521 ppm lithium. These grades exceed the project’s current average and confirm the presence of a thick, ultra-high-grade core.

Hole NNL-032 also delivered strong results, returning 82.29 meters, averaging 3,664 ppm lithium. Hole NNL-036 intersected 78.63 meters, averaging 3,141 ppm lithium, including a deep 9.4-meter zone grading 4,580 ppm lithium.

These intercepts show both lateral and vertical continuity. They show that high-grade lithium persists across wide widths and at depth. Importantly, most of these zones occur near the surface. Near-surface mineralization reduces stripping requirements and can improve early-year mine economics.

The infill drilling supports resource upgrading efforts. It helps convert Inferred resources into Indicated and Measured categories. Higher confidence categories are critical for mine planning, financing, and permitting.

The results confirm that Nevada North’s high-grade core is consistent, thick, and scalable.

Mr. Greg Reimer, President & Chief Executive Officer and Director of Surge, stated, 

“This infill drilling is doing exactly what it was designed to do: upgrade the resource, confirm continuity of some of our best lithium intercepts, and de-risk the early years of a potential mine plan at Nevada North. Coupled with a robust PEA economic profile, we believe Nevada North is strongly positioned as we move forward with the development of our PFS. We look forward to updating the Mineral Resource Estimate as our next key milestone.”

Expansion Beyond the Current Resource Boundary

The February 17 step-out result adds a new dimension to the project story. The 31-meter intercept grading 4,196 ppm lithium occurred 640 meters beyond the existing resource area. This large extension demonstrates strong mineral continuity outside the current pit-constrained model.

Step-out drilling is important because it tests the limits of a deposit. A successful 640-meter extension suggests the deposit remains open and may support future resource growth.

Nevada North already hosts a pit-constrained Inferred Resource of 11.24 million tonnes of lithium carbonate equivalent (LCE) grading 3,010 ppm lithium at a 1,250 ppm cutoff. High-grade step-out intercepts increase confidence that future resource updates may expand both tonnage and overall contained lithium.

Highly anomalous soil values and geophysical surveys also suggest the clay horizons could extend even further. The mineralized zone currently spans more than 4,300 meters in strike length and over 1,500 meters in width. Continued drilling could increase the overall scale of the project.

This combination of strong infill and wide step-out success strengthens Nevada North’s long-term growth profile.

• SEE MORE: From Resource to Battery-Grade: How NILI Aims to Deliver 99% Purity Lithium

Advancing Toward Pre-Feasibility and Permitting

The 2025 drilling program did more than confirm grade. It also collected critical technical data required for the upcoming PFS and environmental permitting.

Hole NNL-035 was strategically positioned near Texas Spring to gather hydrogeological data. The hole successfully installed the Vibrating Wire Piezometers (VWPs) to monitor groundwater conditions. This data will help model basin hydrology and support environmental approvals.

The company also completed detailed geotechnical logging across all holes. High-resolution televiewer surveys mapped fault structures. Representative samples from each rock unit are now undergoing rock strength testing. These tests will help determine safe pit wall angles for future mine planning.

Remarkably, quality control procedures were rigorous. Of the 806 total samples analyzed, 134 were QA/QC samples. Certified reference standards, blanks, and duplicates were systematically inserted.

Standards are performed within acceptable limits. Duplicate samples fell within 10% tolerance. These results confirm strong analytical accuracy and reproducibility.

This technical work reduces development risk. This, in turn, ensures that the PFS is built on high-quality geological and engineering data.

Strategic Upside: By-Products and Strong Economics

In addition to lithium, the infill drilling consistently returned elevated cesium and rubidium values. Cesium reached up to 163 ppm and rubidium up to 349 ppm in association with the lithium core. Surge is evaluating the deportment of these elements in ongoing metallurgical studies.

If recoverable, these critical minerals could add value to the project economics. By-product potential can improve revenue streams and enhance overall project returns.

Nevada North already shows strong economic metrics from its Preliminary Economic Assessment. The PEA reports an after-tax NPV (8%) of approximately US$9.17 billion and an after-tax IRR of 22.8% at a lithium price of US$24,000 per tonne LCE. Operating costs are estimated at roughly US$5,243 per tonne LCE.

High grades play a central role in these economics. Thick intervals averaging 3,500–4,500 ppm lithium reduce the tonnage required to produce each unit of lithium. This supports lower operating costs and stronger early cash flow potential.

The joint venture with Evolution Mining also strengthens the project’s development pathway. Evolution is a globally recognized mining company with operational expertise. This partnership adds technical depth and financial strength to the Nevada North project.

A Strengthened Position in the U.S. Lithium Landscape

The United States is working to strengthen its domestic lithium supply chain. Federal incentives and policy measures emphasize secure, locally sourced battery materials. Projects that combine high grade, large scale, and technical readiness are well-positioned in this environment.

Nevada North now demonstrates three key strengths at once:

1. Proven high-grade core through infill drilling,
2. Expansion potential through 640-meter step-out success, and
3. Advancing technical data for PFS and permitting.

These updates reinforce Nevada North as one of the highest-grade lithium clay projects in the United States. They show both growth and de-risking in the same drilling campaign.

As global demand for lithium continues to rise, supply sources with strong grade, scale, and development momentum will stand out. Surge Battery Metals’ recent results highlight meaningful progress on all three fronts.

The company’s Nevada North Lithium Project is not only expanding. It is advancing toward higher confidence resources, improved technical definition, and future development milestones. These combined achievements strengthen Surge’s position within the evolving North American lithium supply chain.

• READ MORE: A Rising Lithium Player Powering America’s Clean Energy Future

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Certain statements contained in this news release may constitute “forward-looking information” within the meaning of applicable securities laws. Forward-looking information generally can be identified by words such as “anticipate,” “expect,” “estimate,” “forecast,” “plan,” and similar expressions suggesting future outcomes or events. Forward-looking information is based on current expectations of management; however, it is subject to known and unknown risks, uncertainties, and other factors that may cause actual results to differ materially from those anticipated.

These factors include, without limitation, statements relating to the Company’s exploration and development plans, the potential of its mineral projects, financing activities, regulatory approvals, market conditions, and future objectives. Forward-looking information involves numerous risks and uncertainties and actual results might differ materially from results suggested in any forward-looking information. These risks and uncertainties include, among other things, market volatility, the state of financial markets for the Company’s securities, fluctuations in commodity prices, operational challenges, and changes in business plans.

Forward-looking information is based on several key expectations and assumptions, including, without limitation, that the Company will continue with its stated business objectives and will be able to raise additional capital as required. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated, or intended.

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The forward-looking information contained herein is expressly qualified in its entirety by this cautionary statement. Forward-looking information reflects management’s current beliefs and is based on information currently available to the Company. The forward-looking information is made as of the date of this news release, and the Company assumes no obligation to update or revise such information to reflect new events or circumstances except as may be required by applicable law.

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