Schneider Electric is adding to its Energy & Sustainability Services (ESS) business, based in Louisville, KY, with the acquisition of Renewable Choice Energy, Boulder, CO, a firm that helps commercial, industrial, and institutional clients navigate their clean energy purchasing options.
Schneider said the acquisition will further enhance its position in the renewables market, where its presence has been growing over the past few years. Specifically, Schneider said the addition of Renewable Choice bolsters the advisory services it can provide for power purchase agreements (PPAs), in which clients procure clean energy directly from large-scale renewable energy projects, and will aid clients in implementation of other clean technology solutions.
Renewable Choice, formed in 2001, is described by Schneider as a pioneer in the renewables industry, working with over 30% of the Fortune 500. Its clients have added over 1,000 megawatts of new wind and solar capacity to the global grid.
“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,” said Steve Wilhite, Senior Vice President of Energy and Sustainability Services, Schneider Electric. “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.”
The companies have worked together over the years, said Pete Dignan, CEO of Renewable Choice, in a letter to the industry announcing the deal. Since 2011, the Renewable Choice-Schneider Electric team has advised clients on the purchase of more than 2 GW of renewable energy. With Renewable Choice as part of the mix, Schneider will be able to further enhance its position in the rapidly growing commercial & industrial (C&I) renewables market.
“We are pleased to become an integral part of Schneider Electric’s Energy & Sustainability Services (ESS) team, which dramatically increases our global reach, and diversifies the ways in which we can help our clients,” Dignan said. “We will continue to work with clients to buy clean energy more strategically, and now with Schneider Electric’s additional capabilities, we can also help clients to use that energy more efficiently, and to become more sustainable in how they use many other resources, anywhere around the globe.”
Schneider Electric’s involvement in renewable energy has been growing over the years to encompass products such as inverters and substation systems for utility-scale solar and energy storage systems, as well as complete residential solar systems for off-grid applications in developing countries.