10,000 MW of Renewable Energy: Schneider Electric Clients Reach Landmark Milestone
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Collectively, Schneider Electric’s PPA advisory clients have contracted for more than 10,000 megawatts of wind and solar power globally, a volume equivalent to over 300,000,000 metric tons of CO2
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Landmark milestone achieved through the support of more than 140 completed corporate PPA transactions since 2014
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 extraordinary 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 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:
- Launch of the company’s Climate Change Advisory Services
- Enhanced global supply chain decarbonization services
- Opening of new operations in Singapore to serve the growing needs of customers in East Asia and Japan
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 corporation in 2021.