December 21, 2022
Around the Year with Edison Energy: Bigger, better, bolder
Positive, measurable impact was the headline for 2022
This year was a game-changer for Edison Energy, with our global team doubling and our offerings seeing major expansion across energy procurement, optimization, renewables, and sustainability solutions. We now boast 42 Global Fortune 500 clients; 10 GW of offsite renewable procurement; $7BN in energy spend managed; and 30+ countries served.
Here’s a month-by-month snapshot of some of our highlights across the year:
January
Ramping renewable hydrogen
Edison Energy (DBA as Altenex Energy in Europe) entered 2022 as a founding member of the Renewable Hydrogen Coalition, joining other market leaders across Europe in their mission for a future-proof and decarbonized Europe.
Edison continues to connect with renewable hydrogen stakeholders as we explore ways to grow our offerings to prospective clients.
February
Accelerate℠ Program launches
Edison Energy and RENEW Energy Partners announced the launch of Accelerate℠, a $300 million flexible funding program that targets organizations with concrete decarbonization goals. The platform brings together Edison’s experience in the design and implementation of decarbonization strategies with RENEW’s capital to execute these strategies without upfront capital from the customer.
Impact RoundTable
Edison launched its Impact Roundtable series with a conversation around opportunities for large corporate clients to include environmental and social justice initiatives into their renewable energy procurement strategies. The panel featured experts from VOLT Energy, Duke Energy, and Solar Stewards.
March
Rollout of Accelerate℠ Auto program
Edison Energy and RENEW Energy Partners established the Accelerate℠ Auto Program, a $50 million fund for decarbonization efforts aimed at suppliers within the auto industry. The partnership includes Manufacture 2030 (M2030), which has a well-established presence in the space, working with several auto manufacturers and their suppliers to ease the collection and sharing of data.
Edison teams up with WattTime
Edison Energy launched a partnership with environmental tech nonprofit WattTime to help corporate renewable energy buyers achieve carbon emission reductions and reach their net-zero goals. Users of Edison’s Insights™ platform now have access to WattTime’s real-time and historical data on how much carbon can be avoided by investing in certain renewable energy projects.
April
Bristol Myers Squibb goes solar
Edison Energy served as advisors to Bristol Myers Squibb on a 15-year power purchase agreement for 60 MW at the 240 MW Cattlemen Solar Park in Milam County, Texas. The project, which will be operational in 2023, will generate economic benefits including landowner payments and tax payments estimated at $55 million, which will support local schools and other essential community services.
May
Supporting corporate fleet owners
Edison launched a partnership with Sawatch Labs to help corporate fleet owners save money and achieve net-zero goals faster, as they choose which vehicles to switch from gasoline and diesel to electric power. The ultra-granular data provided by Sawatch will help our clients better budget, track, and time their conversion to electric vehicles.
We learn when we listen
Our Green Mic podcast series launched with a compelling conversation with Ken Irvin, a co-leader of the global Energy practice area team at Sidley. Subsequent podcasts have featured conversations with energy sector leaders including the Renewable Hydrogen Coalition, ChargerHelp!, Clean Energy Group, and Prime Data Centers.
June
And the winner is…
Boeing named Edison as one of its top suppliers at the company’s 2022 Supplier of the Year event in Los Angeles. Edison topped the competition in the Sustainability category, providing energy supply advisory services to Boeing, as well as strategic sustainability services. Edison has also assisted with technical evaluations for onsite solar installations for at least one primary Boeing manufacturing site in the U.S.
Pride
To recognize and celebrate Pride Month, Edison Energy participated in Jersey Pride in Asbury Park, NJ, where we had an incredible time meeting new friends and engaging with the LGBTQ+ community. We were proud to sponsor the event and are already looking forward to next year!
We closed out Pride Month with a compelling Impact Roundtable on the LGBTQ+ experience within the energy sector, featuring experts from LF Energy, Edison International, and Edison Energy. Most compelling were the shared impacts of the conversation, with attendees expressing an increased understanding and empathy towards the LGBTQ+ community, while LGBTQ+ individuals expressed their feelings of support and community within the energy space.
July
Teaming up for 24/7 carbon-free energy
Altenex Energy partnered with FlexiDAO to help corporate purchasers move beyond their current clean energy goals to use 24/7 carbon-free energy. Users of Altenex’s Insights™ platform now have access to FlexiDAO’s granular hourly data, as the firms team up to help clients achieve measurable carbon emission reductions cost-effectively and reach their net-zero goals.
August
Creating impact with Adventist HealthCare
Edison Energy was highlighted in the DDC Journal for its work with Adventist HealthCare at both the White Oak and Shady Grove Medical Center campuses, where the team most recently designed-built a 2.1 MW combined heat and power carbon-reducing project.
Adventist HealthCare continues to implement impactful and practical infrastructure projects that will improve the quality, safety, and efficiency of patient care; drive community impact; and create a resilient, sustainable future.
September
Mission: Net zero
Takeda and Enel Green Power North America announced the signing of a long-term virtual power purchase agreement for a 79 MW portion of Enel’s Seven Cowboy wind project. The agreement, advised by Edison Energy, advances progress towards achieving Takeda’s goals of reducing 40 percent of scopes 1 and 2 greenhouse gas (GHG) emissions by 2025 and achieving net-zero GHG emissions for scopes 1 and 2 by 2035.
Climate Week NYC
An official event of Climate Week NYC, our “back-to-school” Impact RoundTable explored how solar is empowering schools and cities across the nation. Our panel included experts from Generate Capital, the New York City Department of Education, Solar One, and Generation 180.
Knowledge is power
Edison and Manufacture 2030 (M2030) teamed up for a three-part climate education series for M2030 members, which covered the business case for climate action, information to help businesses calculate their carbon emissions, and an overview of various target-setting frameworks.
October
Edison acquires Alfa Energy
Edison Energy acquired international energy and sustainability consultancy Alfa Energy as part of its ongoing efforts to expand its impact and offerings to clients and partners.
Now, as one global company, our combined experience and expertise, technological capabilities, and local market intelligence will allow us to help our corporate, industrial, and institutional clients achieve their strategic, financial, and energy and sustainability goals. The partnership has doubled Edison’s team, along with expansion into 22 European countries.
Saint-Gobain harnesses wind and solar
Edison Energy advised Saint-Gobain on signing a 10-year power purchase agreement (PPA) with TotalEnergies. Through the 200 MW PPA, Saint-Gobain will purchase solar power for its 145 industrial sites in North America, significantly offsetting its North American CO2 emissions. This is the second PPA signed in North America by Saint-Gobain, the first one being a wind project in Blooming Grove, Illinois. The two projects combined are expected to represent a 62% reduction in Saint-Gobain North America’s scope 2 emissions.
Meet me in Madrid
Altenex Energy, Bird & Bird, FlexiDAO, and RE-Source convened for a roundtable discussion around current corporate energy procurement matters, including European PPA market trends & drivers, renewable energy market spotlights, legal considerations, key hedging strategies and 24/7 carbon-free energy.
November
Sweet success!
National Grid Renewables celebrated the start of construction at its Copperhead Solar & Storage Project, a 150 MW solar and 100 MWh storage project in Falls County, Texas. During the groundbreaking event, National Grid also announced a 140 MW power purchase agreement with The Hershey Company for Copperhead, marking the second PPA between Hershey and National Grid Renewables after Hershey’s Noble solar PPA was announced in 2021. Edison worked with Hershey on its environmental initiatives and selection of Copperhead.
Copperhead is projected to produce an estimated $25 million in direct economic impact throughout its first 25 years of operation, including the production of new tax revenue and the creation of a charitable fund estimated at $600,000.
Pomp and circumstance
Edison Energy CEO Oded J. Rhone; Damir Ahmovic, Edison Energy President, Europe; and Drew Murphy, chair of Edison Energy’s board and Senior Vice President of Edison International, gathered with UK and US diplomats and industry leaders at the British Embassy in Sarajevo to share more details of Edison’s acquisition of Alfa Energy. In attendance were representatives of the European Bank for Reconstruction and Development, the World Bank, the IFC, Deloitte, the Ministry of Foreign Trade and Economic Relations of Bosnia, and current and potential clients.
COP27
Representatives from Edison Energy and Edison International gathered in Egypt for the United Nations Conference of Parties on Climate Change, COP27. We were excited to take part in these critical conversations to help advance a sustainable, resilient, and equitable net-zero future.
Global pharmaceuticals unite to decarbonize
As part of COP27, Manufacture 2030 (M2030) launched Activate, an innovative new program that seeks to reduce the environmental impacts associated with the pharmaceutical industry’s value chain. M2030 will independently facilitate the program and lead supplier engagement by using its innovative carbon reduction software, climate action managers, and extensive network of expert partners, including Edison Energy. The program brings together AstraZeneca, Bristol Myers Squibb, GSK, Johnson & Johnson, and Pfizer as founding members to engage with a global network of API suppliers.
December
Impact+
With the launch of Impact+, Edison Energy clients now have access to detailed and centralized insights into their environmental impact, energy data, and greenhouse gas (GHG) emissions across their portfolios. Our new GHG Emissions Analysis feature will allow clients to access in-depth GHG emissions analysis alongside Conventional Supply insights across their North American facilities.
Partnering with Indigenous communities
Our final Impact RoundTable of the year featured an all-female powerhouse panel, who discussed how Indigenous communities are harnessing renewables to achieve energy sovereignty. Hosted by Hannah Badrei, Ph.D., Vice President, Edison Energy Supply Advisory, our panelists included experts from K&L Gates, BEF Renewables, the Métis Nation-Saskatchewan, and Edison Energy.
Giving back
With an overarching goal to uplift, empower, and support communities, our philanthropic efforts this year resulted in direct financial support to a host of organizations including the American Heart Association, Girls Who Code, Grid Alternatives’ National Tribal Program, the Home Deport Foundation, ASPIRA, and the Special Olympics.
We look forward to expanding our philanthropic activities in 2023 and beyond.
Thank you for a great year! We’re excited to see what 2023 holds for us.
