Ovo buys into PPA marketplace


Energy supplier Ovo has invested in power purchase agreement (PPA) platform Renewable Exchange, taking a minority stake.

The platform connects renewable asset owners looking to sell power with buyers. It enables sellers to compare bids with multiple offtakers and receive the best price for their output.

Founded in 2016, Renewable Exchange aims to enable even small generators to trade on their own terms. The company claims 717 generators representing over 1GW in capacity are connected to the platform.

Founder Robert Ogden said his firm will use Ovo’s investment to scale.

“By working with Ovo we can deliver on our vision to pave the way for subsidy free renewables by digitising and democratising the Power Purchase Agreement market,” said Ogden.

Ovo director of business development, Steven Ackroyd, will join Renewable Exchange’s board.

Related stories:

Ovo to buy SSE’s retail business

Mitsubishi takes 20 per cent stake in Ovo

Ovo takes stake in blockchain firm Electron

Ovo aims to unlock 12GW of flex from domestic storage heaters

Kaluza: EVs can displace large-scale batteries

Free Powervault storage devices

Click here to see if you qualify for a free subscription to the print edition of The Energyst, or to renew.

Follow us at @EnergystMedia. For regular bulletins, sign up for the free newsletter.


Please enter your comment!
Please enter your name here