Amazon Announces PPA For Electricity & Wind Energy Projects In Germany, Sweden

(RTTNews) - Amazon.com Inc. (AMZN) Friday said that it has signed a Power Purchase Agreement or PPA in Germany and also announced investments in four new wind energy projects in Sweden.

In Germany, Amazon said that it has agreed to purchase 600 Megawatts or MW of carbon-free electricity from the Gennaker offshore wind farm in the Baltic Sea. Once operational, the Gennaker farm is expected to generate enough electricity annually to power the equivalent of more than one million German households.

Additionally, Amazon said that it has signed four additional PPAs in Sweden, thus taking its total carbon-free energy capacity in the country to nearly 1 Gigawatt.

With these latest investments, Amazon said that it has now invested in a total of nine utility-scale wind energy projects in Sweden.

On the NASDAQ, AMZN ended Thursday's trading at $256.26, down $4.02 or 1.5 percent. In pre-market trading, the stock is up to $257.52, up $1.64 or 0.57 percent.