American tech conglomerate Cisco is tapping solar energy to lower costs and cut greenhouse gas emissions. The firm has locked down a 15-year financial arrangement with R. Power that bankrolls 470 gigawatt hours of fresh solar capacity without physically receiving the electricity. R.Power’s virtual power purchase agreement (VPPA) establishes fixed pricing while developers sell actual power into Poland’s grid. Cisco will receive payments when market rates surpass the contracted price, but will have to cover shortfalls when prices dip below market rates.
As entities like Cisco help in accelerating the penetration of renewables like solar, other firms like Vision Marine Technologies Inc. (NASDAQ: VMAR) are also doing the same in other verticals like…
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