Schneider Electric Executes On Vision To Be The Central Technology Partner For The New Energy Era Via Acquisition Of Renewable Choice Energy
On January 18, 2017, Schneider Electric announced it has acquired Renewable Choice Energy, a US-based provider of advisory services for power purchase agreements (PPA) and renewable energy procurement. Renewable Choice Energy will become part of Schneider Electric’s Energy & Sustainability Services team to further its delivery of multi-faceted energy management programmes across energy procurement, energy consumption reduction and time-of-use optimization.
This acquisition shows that Schneider Electric continues to execute on its vision to be the central technology partner for the new energy era. The global energy landscape is undergoing a multi-decade transformation - evolving on multiple fronts with the growing penetration of distributed energy, new participants entering the value chain and a wrath of new IoT and microgrid technologies creating new options for energy management. Renewable Choice Energy will boost Schneider Electric’s capabilities to support clients in sourcing a mix of renewable energy within procurement strategies. In the near-term, this supports organizations in using renewable energy credits to meet sustainability goals or using PPAs to take a long-term hedge against the risk of fluctuating energy prices. This acquisition fits well with its existing procurement capabilities – in particular through its acquisition of Summit Energy in 2011.
Schneider Electric has been evolving its capabilities for the new energy era via other initiatives. One interesting proposition is its New Energy Opportunities (NEO) Network, launched in July 2016, which helps buyers to review the value of renewable energy technologies across different geographies based on real-life case studies, as well as be matched with local, expert providers. Data centre provider Equinix has already used NEO Network to simplify the process of using a PPA to purchase solar and wind power.
For more insights on customer buying trends across 10 different on-site generation technologies see our report Businesses Powering On With Decentralized Energy Vision.