German energy company innogy is to make 770 MW-worth of its renewables portfolio available to corporate energy buyers on a clean energy marketplace run by DNV GL.
Instatrust is a digital platform that makes wind and solar power purchase agreements available to corporations. It uses a scoring methodology to allow potential off-takers to screen projects in an online tender tool to easily source, screen and analyse renewables assets.
Innogy’s contribution to Instatrust will comprise 770 MW of solar PV and onshore wind across seven countries. All of the projects are in an advanced development stage or already under construction.
innogy said today that providing corporate buyers with access to clean energy had been a long-term ambition and added that it had been looking for a solution that was “user-friendly, provides ease of use and complete independence. DNV GL’s digital marketplace Instatrust combines all those features in one platform. We are confident that the marketplace is ideally placed to speed-up and simplify the power purchase agreement process”.
Roland Kok, head of customer solutions at innogy’s renewables segment said that renewable energy usage “is becoming more and more a service over a commodity” and “digitisation enables us to connect easier and earlier with the right partners”.
DNV GL Energy chief executive Ditlev Engel said: “We see that hundreds of corporations worldwide are committed to run their operations on 100 per cent renewable energy. This new interest from corporations in clean energy trade requires a connection between suppliers and buyers of renewable energy, based on expertise, to allow transparent deals in renewable energy.”
According to Bloomberg NEF, last year corporates more than doubled the volume of green power that was purchased directly through power purchase agreements, reaching a record of 19.5 GW – or roughly 10 per cent of the global volume of renewables installed last year.
innogy owns and operates around 3600 megawatts MW of renewables energy in ten countries with further wind and solar projects under construction and a development pipeline of 6.9 GW.
Caroline Brun Ellefsen, global head of DNV GL’s Instatrust, said the collaboration with innogy “is a very exciting step for both companies”.
She added that with energy buyers seeing opportunities to reduce energy costs, price volatility and their carbon footprint, “they have strongly increasing interests to close power purchase agreements with renewable energy sellers. As renewable energy sellers want to reduce their exposure to merchant risks and to ensure the bankability of their projects, a platform to link these needs between each other solves their challenges.”