IRVINE, Calif., Jan. 10, 2017 /PRNewswire/ -- Altenex, an Edison Energy company, today announced the availability of PowerBloks™ – a first-of-its-kind renewable energy power purchase agreement (PPA) structure for commercial, industrial and institutional electricity users. PowerBloks is specifically designed to meet the needs of large and mid-size energy users by providing smaller and shorter duration renewable capacity offtake. The result is a fundamental shift in the way renewable energy is purchased, and a potentially dramatic expansion of the United States' renewable energy market.
"Many organizations are attracted to wind and solar energy to decrease energy costs, reduce risk and meet organizational sustainability goals, but until now, options for renewable energy purchasing have been limited to only the very largest energy users given the size and duration of the power purchase agreements," said Allan Schurr, president of Edison Energy. "Through PowerBloks, Edison Energy is taking the next step in helping organizations with smaller energy demands benefit from purchasing off-site renewables. It's a key product in our Energy-as-a-Service model, where we offer tailored solutions to meet each client's unique needs."
PowerBloks enables organizations of all sizes to purchase smaller blocks of power that are matched more closely to localized demand, and have the flexibility to contract for power on the customer's timeline – as opposed to being dependent on the renewable project's construction and commercial operation schedule. Whereas a traditional corporate PPA might require a purchasing commitment of 100 megawatts (MW) and a 15-20 year contract term, PowerBloks are available in 5-10 MW increments and 10-year terms.
"We believe PowerBloks is an appealing solution for a much wider range of commercial and industrial companies and institutions such as universities, local governments and healthcare systems, many of which have smaller energy loads than would readily align with a traditional PPA," said Duncan McIntyre, president of Altenex. "Many of these organizations have been unable to participate in the renewable energy market because they can't meet the requirements of a traditional PPA. And the current site aggregation strategies have been challenging. PowerBloks changes that." Continued McIntyre: "We've also seen interest from larger corporate customers that are attracted to the flexible offtake sizing and 10-year terms. We think that this structure will bring new participants to the renewables market and give current participants another strategic option for this cost-effective supply."
To learn more about PowerBloks and the renewable energy opportunity it presents organizations, visit the Edison Energy blog at http://www.edisonenergy.com/c/blog/.
Altenex, an Edison Energy company, based in Boston, MA, provides comprehensive renewable energy advisory and procurement services to its clients. Altenex features a proprietary market access platform in which over 500 renewable energy developers with more than 4,500 wind, solar, biomass and hydro projects compete for their clients' business. The company helps its clients identify, analyze and execute on- and off-site renewable energy supply agreements that provide financial and sustainability value. For more information about Altenex visit www.altenex.com.
About Edison Energy
Edison Energy is an independent energy advisory and solutions integration company with the capabilities to develop and integrate a broad range of energy solutions for the largest energy users nationwide. Edison Energy is focused on helping its customers reduce their energy costs, improve the environmental performance of their operations, ensure energy resiliency and manage exposure to energy price risk through its unique Energy-as-a-Service business model. For more information about Edison Energy visit www.edisonenergy.com.
Edison Energy is not the same company as Southern California Edison, the utility, and Edison Energy is not regulated by the California Public Utilities Commission.
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SOURCE Edison Energy