The solution will enable consumers to be supplied with clean energy through traditional retail supply contracts, as well as renewable energy certificates.
For instance, for customers in ERCOT, ENGIE will source renewable energy from the company’s 200MW wind energy farm in San Angelo.
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The solution is available in five-to-ten year contracts to provide consumers with budget certainty owing to fixed energy prices.
Consumers who sign up to portfolioRE will be offered with marketing rights to reference specific renewable assets to make it easy for customers to become low-carbon leaders, by reducing their environmental impact while also improving their competitive position.
The more consumers in a specific area register, the more portfolioRE will be leveraged to support the construction of new, local renewable energy facilities.
Graham Leith, senior vice president at ENGIE Resources, said: “portfolioRE is the coming together of the best that retail energy marketing offers, growth in renewable energy development, and ENGIE’s commitment to lead the zero-carbon transition.
“Non-utility customers account for two-thirds of end-use of electricity, representing about 4,200MW of power purchase agreements in the US, an increase of 66% since 2015 with the same or higher growth levels expected to 2030 and beyond.”
ENGIE has plans to invest nearly $3 billion to add 9GW of new renewables capacity by 2021, with 50% dedicated to specific customers.
The firm has 2,500MW of wind and solar power operating or under construction and more than 30 projects in development. ENGIE has structured more than 8,100,000 MWh in physical renewable energy for more than 800 end-use customer locations since 2017.