FOR IMMEDIATE RELEASE
Edison Energy and Altenex Provide Proven Renewable Energy PPA for Market Use
BOSTON, Mass. – May 18, 2016 – 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
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.