Altenex, an Edison Energy company, has 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 execution of more than 1 GW of transactions across all major U.S. power markets, says Altenex.
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,” explains 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 common pitfalls that can occur in this kind of transaction: For example, 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, explains Altenex.
The REPA is available for free download by commercial, industrial and institutional energy users.