Altenex, an Edison Energy company, today made public its proprietary
Renewable Energy Purchase Agreement (REPA) used for commercial,
industrial and institutional clients. The REPA, a power purchase
agreement (PPA) for renewable energy, has been used by multiple Altenex
clients, including Fortune 1000 companies, government agencies and
universities in the successful execution of more than one gigawatt of
transactions across all major U.S. power markets.
By releasing the PPA to the market, Altenex intends to help companies
and institutions accelerate their renewable energy purchasing efforts.
“For organizations looking at renewable energy procurement, the lack of
a contract that appropriately mitigates buyer risk can be a significant
barrier to entry,” said Duncan McIntyre, Altenex’s senior managing
director. “Corporate buyers, especially, need to manage a number of
critical risks in any renewable energy transaction, and we believe one
of the best ways to do that is through the contract.”
The Altenex REPA has been specifically designed to mitigate companies’
risks in procuring large-scale, off-site renewable energy supply to
avoid some of the most common pitfalls that can occur in this kind of
transaction. An issue as simple as scheduling ongoing maintenance of a
wind or solar facility can have major production/economic performance
implications for the off-taker if a facility is down during
peak-production/peak-usage times.
Other major areas of contract-addressable risk include project
operations, volume/resource considerations, operations, market price
protection, counterparty risk, renewable energy certificate devaluation,
regulatory change, intermittency, and hedge effectiveness. The Altenex
REPA addresses each of these and more, helping organizations maximize
both environmental and economic value from their renewable energy
efforts.
“Most companies don’t have their own proven PPA sitting around on a
shelf,” said McIntyre. “The contractual protections of the buyer’s
interests included in the Altenex PPA provide a high level of confidence
for our clients’ senior leadership and help them move forward.”
“This move by Altenex evidences Edison Energy’s commitment to being the
trusted advisor to large energy users,” said Allan Schurr, president of
Edison Energy. “This is about what is best for our customers and the
industry.”
The REPA is available for free download by commercial, industrial and
institutional energy users at www.altenex.com.
About Altenex
Altenex, based in Boston, Mass., provides comprehensive renewable energy
advisory and procurement services to its clients, featuring a
proprietary market access platform where over 500 renewable energy
developers with more than 4,500 wind, solar, biomass and hydro projects
compete for their clients’ business. The company typically negotiates
long-term power purchase agreements for renewable energy on behalf of
their large corporate clients. For more information about Altenex visit www.altenex.com.
About Edison Energy
Edison Energy is an independent advisory and services company with the
capabilities to develop and integrate an array of energy solutions for
the largest energy users nationwide. Edison Energy is focused on helping
the largest energy users simultaneously reduce their energy costs,
improve the environmental performance of their operations, ensure energy
resiliency and manage exposure to energy price risk. We do that by
providing insight, integration and an approach that simplifies through
Energy-as-a-Service. Edison Energy has the heritage, resources,
experience, technology and entrepreneurial business model to improve the
way commercial, industrial and institutional organizations procure, use,
and manage energy. Edison Energy makes energy simple again for the
largest energy users. For more information about Edison Energy visit www.edisonenergy.com.
View source version on businesswire.com: http://www.businesswire.com/news/home/20160518005337/en/
Copyright Business Wire 2016