Schneider Electric Helps Clients Reach Landmark Milestone of 10,000 MW Advised Renewable Energy Power Purchase Agreements
MISSISSAUGA, ON, June 25, 2021 /CNW/ - Schneider Electric, the leader in the digital transformation of energy management and sustainability, today announced that the company has advised its corporate clients on over 10,000 megawatts (MWs) of renewable energy Power Purchase Agreements (PPAs) globally since 2014. This is equivalent to more than 300 million metric tons of carbon emissions, or the amount of carbon annually stored by approximately 367 million acres of forest – equivalent in land mass to three of the four largest U.S. states (Texas, California, and Montana) combined.
This landmark milestone was achieved through the execution of more than 140 completed PPA transactions by Schneider Electric corporate clients, and is the largest publicly announced advised capacity by any third-party buyer's advisor in the world.
A buyer's advisor works on behalf of the company seeking to purchase power through a PPA. It supports the corporation in understanding the nuances of renewable energy markets, and in structuring and negotiating a transaction with a reliable renewable energy partner who best meets their needs, significantly accelerating and simplifying the process and reducing risk.
Schneider Electric was one of the first buyer's advisors to market in 2014 when the corporate PPA market began to accelerate and has since supported some of the largest announced PPA transactions in history. Its global team of experts have collaborated with corporations throughout the U.S., Mexico, India, Australia, and across Europe, and the company is actively engaged in shaping emerging markets in Brazil, Singapore, and Vietnam. This geographic reach enables clients to leverage Schneider's extensive market experience, coupled with local expertise, to secure the deals most optimal for their portfolios. More than 26 terawatt-hours (TWh) of pending renewable energy purchases are currently under advisement globally by the Schneider Electric team.
"This milestone does not belong to Schneider Electric – it belongs to our clients, who, through their collective actions have demonstrated the power of corporate purchasing in renewables," said Steve Wilhite, SVP at Schneider Electric. "What has been most impressive to watch evolve in the past several years is the variety of companies who are now pursuing renewable energy, achieving their decarbonization goals at scale, and, in many cases, setting the pace for others in their industry. We are proud to play a role in this extraordinay energy transformation."
Schneider Electric's renewable energy team is nested within the company's Energy & Sustainability Services (ESS) division, which provides broader advisory services to the corporate market on resource and data management, energy efficiency, sustainability, decarbonization and climate change mitigation and risk management strategies. In total, the division manages more than $30B in energy spend on behalf of its clients annually, and tracks nearly 130 million metric tons of corporate carbon emissions. Its renewable energy clients include Faurecia, Kellogg Co., Signify, Digital Realty, and DSM, and projects such as the Walmart supply chain Gigaton PPA program and the first-ever pan-European consortium for a virtual PPA.
The 10,000 MW announcement is the latest in a series of announced service offerings and geographic expansion from Schneider Electric ESS, including:
The company was the recipient of The Climate Group's RE100 inaugural Clean Energy Trailblazer award in September, and, in March, was recognized by the Center for Resource Solutions for its leadership in renewable energy market development in Asia. Earlier this year, Corporate Knights recognized Schneider Electric as the world's most sustainable company.
To learn more about the company's renewable energy advisory services, visit www.se.com/ess.
About Schneider Electric
Schneider's purpose is to empower all to make the most of our energy and resources, bridging progress and sustainability for all. We call this Life Is On.
Our mission is to be your digital partner for Sustainability and Efficiency.
We drive digital transformation by integrating world-leading process and energy technologies, end-point to cloud connecting products, controls, software and services, across the entire lifecycle, enabling integrated company management, for homes, buildings, data centers, infrastructure and industries.
We are the most local of global companies. We are advocates of open standards and partnership ecosystems that are passionate about our shared Meaningful Purpose, Inclusive and Empowered values.
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SOURCE Schneider Electric Canada Inc.
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