Power Purchase Agreements (PPAs) are the backbone of energy projects. These contracts shape how electricity is bought and sold over the decades-long life of a power plant. Without the stability offered by long-term PPAs, it would be difficult to attract the investment that energy markets need to provide the public with reliable, affordable access to electricity. But here’s the problem: too many of these contracts are locked away behind confidentiality clauses, making it nearly impossible for outsiders (or even many insiders) to fully understand what’s going on.

This secrecy isn’t just a governance issue — it’s a market problem. When contracts are hidden, it’s harder to attract investment, ensure fair pricing, or prevent bad (or even corrupt) deals. Without transparency, governments can sign contracts that saddle the public with expensive electricity, investors can’t accurately assess risks, and markets struggle to function efficiently.

At the Energy for Growth Hub, we’re pushing for greater PPA transparency, especially in emerging economies where PPAs are still often negotiated in the shadows and shielded from the public. The goal? Sustainable deals, better pricing, fewer failed projects, lower risks for investors, and more accountability to citizens.

With the world pouring money into climate finance and energy infrastructure, it’s never been more important to shine a light on how these contracts are structured.

Our first blog in the PPA Transparency Interview Series is on the three faces of transparency.