BayWa R.E. said it will issue Europe's first developer-initiated corporate PPA tender, with electricity coming from a portfolio of renewable energy projects in Germany and Spain.

Power demand has surged in India since March, with blackouts in several states. The Indian states of Andhra Pradesh, Rajasthan, Haryana and Punjab have imposed blackouts to manage power supply and demand, with some cities losing power for as long as eight hours, Bloomberg News reported.