We have had a fantastic response to the call for nominations for our Standards Revision Working Groups. Regarding both the competence and background of the nominees, as well as the number we received, the nominations are impressive. We would like to thank all the nominees for their interest in PEFC’s work and their willingness to contribute to the further improvement of our standards. We are now evaluating all available nominations. We will come back to the nominees in the next three weeks with further information about the acceptance or rejection of the nomination. In case of acceptance, the nominees will receive more detailed information about the further process.
Bloomberg, Cox Enterprises, Gap Inc. (NYSE: GPS), Salesforce (NASDAQ: CRM), and Workday (NASDAQ: WDAY), with guidance from LevelTen Energy and its renewable energy procurement platform, closed 42.5 megawatts of a 100 megawatt North Carolina solar project by global renewable energy developer, service provider and wholesaler, BayWa r.e. This group of companies, coming together as the Corporate Renewable Energy Aggregation Group, is the first example of companies aggregating similar, relatively small amounts of renewable energy demand to collaboratively enter into a virtual power purchase agreement (VPPA), collectively acting as the anchor tenant for a large offsite renewable energy project. The unprecedented coordination between five international businesses lays the groundwork for other corporates to procure renewable energy cooperatively, maximizing value and reducing risk.
The five members of the group, with support from the Business Council on Climate Change (BC3) and the Business Renewables Center (BRC), began collaborating in late 2017. Many potential renewable energy purchasers have historically been faced with a key problem: businesses looking to procure smaller energy loads have been unable to contract directly with large offsite renewable energy projects due to limited energy demand. This has so far restricted business’s ability to catalyze the development of new renewable energy projects. To solve this problem, the group evaluated several mechanisms for aggregating smaller amounts of renewable energy demand to afford them the collective buying power that is typically necessary to contract directly with a large offsite renewable energy project.
The eventual solution chosen by the group was a uniform VPPA contract and a single, shared legal counsel to negotiate and finalize the transaction. This helped to further streamline the final phases of the transaction. The new, simple structure allows the buyers to contract for relatively small pieces of the BayWa r.e. solar project, keep transaction costs low, and learn best practices from each other. The group hopes other buyers see this structure as a viable way to enter the large offsite renewable energy market, helping to accelerate corporate procurement of clean energy and expand renewables deployment in the U.S.
more at source: http://www.gapinc.com/content/gapinc/html/media/pressrelease/2019/med_pr_011719_VPPA.html