HOUSTON: ENGIE Resources has introduced portfolioRE, a solution that offers renewable energy supply to small and midsize customers.
The product offers an opportunity for customers to make the strongest sustainability claims through a solution that is tailored to fit load profiles and low-carbon objectives, and further accelerate the adoption of renewables.
portfolioRE offers practical, predictable renewable physical energy supply through traditional retail supply contracts along with renewable energy certificates (RECs). With an aggregation of customers, the product can be leveraged to support the construction of new, local renewable energy facilities. It can also be tailored to supply physical volumes from existing local assets. For example, with portfolioRE, customers in ERCOT can source from the Live Oak Wind Farm, ENGIE's 200 MW wind farm in San Angelo (TX). Flexible five- to ten-year contracts, firm volumes, fixed price for budget certainty and marketing rights to reference specific renewable assets make it easy for customers to become low-carbon leaders by reducing their environmental impact while also improving their competitive position.
ENGIE is recognized as an industry leader in its sector for corporate social responsibility according to the Dow Jones Sustainability Index and plans to invest nearly $3 billion to add 9GW of new renewables capacity by 2021, with 50% dedicated to specific customers. In the US, ENGIE has approximately 2,500 MW of wind and solar power operating or under construction and more than 30 projects in development.
portfolioRE is the coming together of the best that retail energy marketing offers, growth in renewable energy development, and ENGIE's commitment to lead the zero-carbon transition, said Graham Leith, Senior Vice President. Non-utility customers account for two-thirds of end-use of electricity, representing about 4,200 MW of power purchase agreements in the US, an increase of 66% since 2015 with the same or higher growth levels expected to 2030 and beyond.
Customers increasingly prefer products and services from organizations with reputations for corporate social responsibility. The portfolioRE product is offered to help such customers meet their sustainability and other goals.
ENGIE has been offering Green-e RECs since 2007 and has structured more than 8,100,000 MWh in physical renewable energy for more than 800 end-use customer locations since 2017. In addition to physical green supply with portfolioRE, ENGIE offers a complete suite of renewable supply products including custom structured solutions and virtual power purchase agreements.
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