The ecompany Ltd has launched the latest version of RE-search, an online renewable energy marketplace aimed at large and medium corporates, helping them source and buy clean energy directly from generators across the globe.
The London-based tech company provides a fresh approach to the digitalisation of the renewable energy industry and today, have announced new features for ‘RE-search’ (www.re-search.online) which will boost the purchasing of renewable energy by corporate businesses.
Despite demand growing for renewable energy across the globe, Europe is still lagging behind. Out of the 7.2GW of Power Purchase Agreements signed globally in 2018 according to Bloomberg, only 1.6GW was allocated to Europe and the majority of that volume was due to the solar and wind projects in the Nordics.
So that raises a big question, why are PPAs not being signed more widely? The ecompany believes this is due to various factors, including lack of information about the renewables market, the cost and resources that corporates have to pay to find suitable projects, the size of the available projects and the term of the current contracts.
Juan Pablo Cerda, Founder & CEO of The e-company said: “The age of digital platforms is on the rise, giving way to new routes to enhance productivity and performance and pave the way for innovation. We combined technology with traditional energy sourcing to democratise the way companies access clean energy. It’s about creating smart products and services that disrupt the way energy buyers and project developers connect.”
The new and enhanced version of RE-search is designed to solve the challenges that the corporate world faces. For instance, it incorporates a business case tool that provides a forward view of the renewable energy market and compares it against the PPA price. Another feature included in the new version is enhanced communication channels where corporates can communicate with other buyers and developers.
“The idea is to increase confidence in the market and open communication channels between smaller companies, large corporates and developers. This will help raise awareness of the issues and challenges in the industry and provide a new way to tackle them. The Re-search portal will become a game-changer in the clean energy sourcing sector”, added Cerda.
The refreshed version of RE-search allows developers to respond to Requests for Information, upload projects to the marketplace and access industry data in one place. The ecompany wants to open up the market to smaller developers and provide a platform for everyone to showcase their operational and pipeline projects.
AI will change the way we make connections
RE-search uses technology, including the future innovation of Artificial Intelligence algorithms, to make connections between clean energy projects and corporate off-takers, thereby increasing the much needed liquidity in the market. By identifying key search trends and parameters, RE-search will suggest suitable projects to corporates and give them the option of aggregating their consumption with other multiple corporates, facilitating the process of contracting energy from projects around the world.
The RE-search portal is now available for immediate access at website https://re-search.online.