Award-winning firm advances global presence
BREAKING: Renewable Choice Energy announced today that it has expanded its global portfolio of renewable energy products and services to include international power purchase agreements (PPAs). The company already supplies global energy attribute certificates (EACs) and carbon offsets (emissions reductions) to its commercial, industrial, and institutional (C&I) customers. The firm has also partnered with green building projects in more than 30 different countries to help them earn their LEED® certification.
Renewable Choice began its rise as a leading green power supplier in 2006, when it helped Whole Foods Market become 100% wind powered. The deal was the largest corporate purchase of renewable energy to date. Since that time, hundreds of multinational corporations have followed suit. In 2015, corporate purchasers were responsible for purchasing more than 3,000 megawatts of new wind and solar capacity, many with Renewable Choice’s help.
The company began advising clients on long-term renewable energy contracting via PPA in 2011. The PPA mechanism allows organizational buyers to participate more directly in the renewable energy market, while locking in stable prices to hedge against market volatility. The company’s expanded international division will support C&I buyers looking to purchase PPAs in countries such as Mexico, India, and the Netherlands where such deals have favorable terms and economics.
“What we’ve seen over the past year is an explosion of C&I interest in PPAs, both domestic and abroad,” said James Lewis, Renewable Choice’s Sr. Director of Strategic Renewables for International Markets. “Favorable conditions—including the deregulation of the Mexican energy market and the aggressive renewable energy target set by India’s Modi government—means that it’s more feasible than ever for multinational corporations and their suppliers to execute onsite or offsite wind and solar PPAs in a number of global markets.”
In addition to international PPAs, the company will continue to provide customized EAC and carbon offset procurement options to C&I buyers. Renewable Choice’s deep experience in transacting internationally has helped it build relationships with reputable, credible projects in more than 30 countries—with more being added all the time as renewable energy trading schemes advance in developing markets. International EACs, in particular, are of high value to C&I buyers who may report to CDP. Under the new Scope 2 guidance, published in 2015 by WRI, entities must match the region of their EACs to the region of their operational electricity load.
“EACs are the worldwide standard for tracking and trading renewable energy—even PPAs rely on EACs for their clean generation attributes,” said Amy Haddon, VP of Communications & Engagement for Renewable Choice. “However, it can be difficult to obtain credible EACs. For C&I buyers with operations in developing markets like Singapore, Brazil, and China, a procurement partner like Renewable Choice is invaluable.”
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