Demand for Clean Energy Reaches Unprecedented Levels This Year
Governments may be moving frustratingly slow when it comes to supporting clean energy, but there’s one ray of light: the private sector isn’t. Over the past six months, on the LevelTen Energy Marketplace, organizations have sought to procure approximately 6 million megawatt hours (MWh) of clean energy per year through power purchase agreements (PPAs), representing nearly 75 million megawatt hours over the expected life of the PPAs. To put that into perspective, 75 million MWh is enough to power the entire state of South Carolina for a year!
These figures represent competitive requests for proposals (RFPs), as well as bilateral transactions facilitated through the LevelTen Energy Marketplace, which features over 4,500 live price offers. Over the past six months, LevelTen clients and partners issued procurements for over 40 PPAs across North America and Europe, an average of 1.5 requests per week. LevelTen’s partner network includes over 40 energy and sustainability advisors, who use the platform to source PPAs on behalf of their clients.
And there’s more to come: utility-scale wind, solar and storage project developers should be aware that massive RFPs are coming soon from LevelTen’s network of buyers. The sponsoring offtakers are experienced, investment-grade, industry-leading companies seeking to procure very large amounts of renewable energy. These organizations and advisors are also browsing the LevelTen Energy Marketplace to source PPAs from developers who have posted offers, which is why it’s important for developers to keep their PPA offers up to date on the Energy Marketplace, in addition to participating in RFPs.
The RFPs that are active on the Platform today, and those coming soon, seek PPA offers from all types of developers, ranging from global independent power producers (IPPs) to regional specialists, and from a wide variety of projects, including solar, wind and storage. Some offtakers are seeking to create PPA portfolios with a group of smaller projects, while others are seeking large projects that can fulfill massive energy needs in a specific market. Developers will see opportunities to monetize RECs, capacity and energy, to secure their full revenue requirements. We’re also seeing offtakers incorporate LevelTen’s Impact+ Score™ into their selection criteria; projects (and developers) with particularly robust social and conservation initiatives are getting more attention than ever.
All developers with credentials to the LevelTen Energy Marketplace will receive RFP notifications in their email inbox; be sure to add LevelTen Energy as a safe sender so you don’t miss a notification, and feel free to reach out to your account representative if you have questions. To request credentials to the LevelTen Energy Marketplace, please contact firstname.lastname@example.org.
Developers can submit their responses to RFPs within their online LevelTen account. Every proposal will receive custom feedback and data from LevelTen that will help participants make their next offer as competitive as possible while maximizing value for the project. In addition, when developers upload an offer to the Energy Marketplace or respond to an RFP, they can see how it compares to the wider market in their Buyer View. To save time responding to multiple RFPs, participants can use the same project and simply copy new price offers. With new tools to submit market-indexed and upside-sharing price offers, it’s never been easier to reach the widest network of buyers with a range of offer types.
LevelTen Energy has continued to evolve its platform to meet the needs of today’s energy buyers and sellers; we encourage any developers who haven’t logged in recently to check out the changes we’ve made to the platform. Developers with questions on how to participate should contact email@example.com. Energy buyers who are interested in learning more about how to procure through the LevelTen platform should email firstname.lastname@example.org.