US retail and wholesale electric supply services firm American PowerNet has partnered with AI-enabled flexibility management firm AutoGrid to deliver innovative renewable energy solutions to corporates and large energy consumers.
The two companies will focus on real-time monitoring, compliance, and price risk management for corporate power purchase agreements and enable 24/7 carbon free electricity through intelligent power management.
American PowerNet is providing its expertise in wholesale and renewable energy management services whilst AutoGrid its AI platform to help corporates to reduce cost, manage risk, and achieve corporate sustainability goals.
According to a new study released by IHS Markit (Omdia), corporate power purchase agreements continue to increase in the US. Corporate PPAs are expected to account for 20% of new renewables generation in the US by 2030.
Driven by ambitious sustainability goals and environmental, social, and corporate governance (ESG) initiatives, companies are taking active roles in energy management as a strategic and differentiating priority. As corporate energy management increases in scope and sophistication, there is a growing need for operational visibility, advanced analytics, and asset orchestration solutions to manage complex renewable portfolios. Robust marketplaces and services have emerged to facilitate renewable energy procurement, but few solutions focus on maximizing operational and economic efficiency of these assets once they are in operation.
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Scott Helm, the CEO of American PowerNet, said: “Large corporate energy consumers have both economic and reputational incentive to improve energy operations, and many of the power industry’s largest advancements are being undertaken by frontier-pushing corporations.
“Ambitious objectives such as net-zero energy, electric vehicle fleet deployments, and 24/7 renewable power matching are being actively pursued with CEO sponsorship and significant financial investment.”
Alex Pratt, senior director of business development at AutoGrid, adds: “As large corporations take more active roles in procuring, balancing, and optimising their energy use, they will increasingly require tools that were traditionally reserved for electric utilities or energy companies.
“Indeed, many corporations purchase and consume far more power than some electric utilities, and the AutoGrid Flex platform enables real-time visibility and controls across both the renewable supply and demand sides of operations, even if assets are distributed geographically across a global corporate footprint.”