Jan 19, 2017

Schneider Electric acquires Renewable Choice Energy

Nell Walker
2 min
Global specialist in energy management and automation, Schneider Electric, has announced its a...

Global specialist in energy management and automation, Schneider Electric, has announced its acquisition of Renewable Choice Energy, which helps commercial, industrial, and institutional clients navigate clean energy options.

Schneider is already one of the world’s most sustainable companies, and this partnership will enhance that position further. It will also bolster its advisory services for power purchase agreements – PPAs – in which clients procure clean energy from large-scale renewable energy projects.

Renewable Choice has pioneered the connecting of organisations to renewable energy and carbon-reducing technologies since 2001. The company has worked with over 160 of the Fortune 500, and its pool of clients has added over 1,000 megawatts of wind and solar capacity to the global grid.

Steve Wilhite, Senior Vice President of Energy and Sustainability Services at Schneider Electric, said: “As clean energy reaches price parity with traditional energy, companies are taking aggressive steps to integrate renewables. We are seeing tremendous demand from clients to source a mix of green energy at a competitive rate. Together, Schneider and Renewable Choice are the clear industry leader for clients looking to diversify their overall energy strategy, while providing critical sustainability and risk mitigation benefits via clean energy solutions.”

Peter Dignan, CEO of Renewable Choice, added: “We are pleased to become an integral part of Schneider Electric’s Energy & Sustainability Services team, which dramatically increases our global reach, and diversifies the ways in which we can help our clients. We will continue to work with clients to buy clean energy more strategically, and with Schneider Electric’s additional capabilities, we can also help clients use that energy more efficiently, and become more sustainable anywhere around the globe.”
 

 

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Apr 23, 2021

Drax advances biomass strategy with Pinnacle acquisition

Drax
Biomass
Sustainability
BECCS
Dominic Ellis
2 min
Drax is advancing biomass following Pinnacle acquisition it reported in a trading update

Drax' recently completed acquisition of Pinnacle more than doubles its sustainable biomass production capacity and significantly reduces its cost of production, it reported in a trading update.

The Group’s enlarged supply chain will have access to 4.9 million tonnes of operational capacity from 2022. Of this total, 2.9 million tonnes are available for Drax’s self-supply requirements in 2022, which will rise to 3.4 million tonnes in 2027.

The £424 million acquisition of the Canadian biomass pellet producer supports Drax' ambition to be carbon negative by 2030, using bioenergy with carbon capture and storage (BECCS) and will make a "significant contribution" in the UK cutting emissions by 78% by 2035 (click here).

Drax CEO Will Gardiner said its Q1 performance had been "robust", supported by the sale of Drax Generation Enterprise, which holds four CCGT power stations, to VPI Generation.

This summer Drax will undertake maintenance on its CfD(2) biomass unit, including a high-pressure turbine upgrade to reduce maintenance costs and improve thermal efficiency, contributing to lower generation costs for Drax Power Station.

In March, Drax secured Capacity Market agreements for its hydro and pumped storage assets worth around £10 million for delivery October 2024-September 2025.

The limitations on BECCS are not technology but supply, with every gigatonne of CO2 stored per year requiring approximately 30-40 million hectares of BECCS feedstock, according to the Global CCS Institute. Nonetheless, BECCS should be seen as an essential complement to the required, wide-scale deployment of CCS to meet climate change targets, it concludes.

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