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Expediting Corporate PPAs to Drive Clean Energy Capacity and Transition
LevelTen Energy is revolutionizing the process of securing power purchase agreements (PPAs) for corporations and renewable energy developers with the introduction of a new auction platform. Recognizing the escalating demand for PPAs and the lengthy delays associated with contract execution, LevelTen has devised a streamlined approach to address these challenges. On average, PPAs currently take up to a year to finalize, prompting the need for a more efficient solution.
Through their innovative platform, LevelTen aims to bring together reputable developers and experienced buyers who are dedicated to securing a PPA. The process commences with developers submitting their projects and desired PPA terms for evaluation by LevelTen.
Subsequently, LevelTen undertakes the task of marketing the projects to potential buyers. Interested buyers can then express their intent, review the PPA terms, and submit competitive bids, all within the confines of the platform.
Expediting power purchase agreements (PPAs) can have a profound impact on the pace of the energy transition, as corporate PPAs play a pivotal role in driving the expansion of clean energy capacity. A striking illustration of this potential is seen in the figures from 2022, wherein corporations in the United States and Canada procured an impressive 17.5 GW of clean energy.
Remarkably, this amount is nearly equivalent to the combined new installations of solar and wind capacity, which amounted to 17.8 GW during the same period. This highlights the significance of corporate PPAs as a substantial and influential source of clean energy generation, underscoring their vital role in accelerating the transition to a sustainable energy future.
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