Multinational claims purchase will cement its position as world’s ‘largest and most experienced corporate renewable energy advisor’
Schneider Electric has announced it has purchased UK-based renewables procurement platform Zeigo, arguing the acquisition will enable it to simplify clean energy procurement for businesses around the world.
Founded in 2019 and backed by the Green Angel Syndicate of investors, Zeigo uses artificial intelligence to match renewable energy generators with businesses and utilities looking to procure clean energy through power purchase agreements (PPAs).
The French multinational, which claims to be the world’s largest and most experienced corporate renewable energy advisor, said the acquisition would help enhance its clean energy advisory services.
Steve Wilhite, Schneider Electric’s senior vice president for sustainable business, said Zeigo’s technology made clean energy procurement less time-consuming and complicated for businesses.
“As the world’s largest advisor to corporations on renewable energy procurement, we know that speed and complexity are two of the barriers that keep some corporations out of the PPA market,” he said. “By adding the Zeigo technology and team to our existing portfolio of services and solutions, we will be able to provide even greater value to our clients worldwide.”
Demand for PPAs is expected to grow rapidly over the coming decade as companies around the world look for ways to shield themselves from volatile gas markets and meet their net zero emission goals.
Zeigo founder and CEO Juan Pablo Cerda said the start-up was “delighted” to join forces with Schneider Electric. “Together, we will bring innovative energy solutions to even more companies, to drive impact as they embark on their decarbonisation journey,” he added.
This content was originally published here.