Schneider Electric has acquired start-up climate-tech platform Zeigo to enhance its digital capabilities in energy, sustainability, and environmental commodity consulting. Zeigo’s machine learning algorithm and 20-person team provide generators with a digital route to market via its PPA platform. Utilities can bid for PPAs via the platform from a whole range of different generators, who themselves can gain best price and market terms through a competitive tendering process.
“Zeigo is delighted to join forces with Schneider Electric to continue to accelerate the digital clean energy revolution,” said Zeigo founder and CEO Juan Pablo Cerda. “Together, we will bring innovative energy solutions to even more companies, to drive impact as they embark on their decarbonisation journey.”
Renewable energy procurement surges as net-zero ambitions reach tipping point
To date, organisations have voluntarily purchased more than 77GW of wind, solar, and geothermal power via PPA. The demand for PPAs is expected to grow as net-zero ambitions accelerate globally. More than 2,000 companies have already joined the Science-based Targets Initiative with the intention of mapping their decarbonisation aspirations to a 1.5°C global warming threshold. A further 300+ corporations have joined the Climate Group’s RE100, committing to achieve 100% renewable energy in their operations. Taken in total, these commitments have led Bloomberg New Energy Finance to predict a shortfall in corporate renewable energy of 269TWh by 2030.
Renewable energy procurement is time-consuming and complicated, requiring significant expert evaluation of projects and risks alongside the satisfaction of stakeholders up to and including corporate boards. By combining Zeigo’s AI capabilities with its existing advisory services, Schneider Electric will deploy enhanced collaborative intelligence in the energy and environmental commodity procurement process, complementing existing Schneider Electric solutions for aggregation and digital platforms, EcoStruxure Resource Advisor and NEO Network.
“As the world’s largest advisor to corporations on renewable energy procurement, we know that speed and complexity are two of the barriers that keep some corporations out of the PPA market,” said Steve Wilhite, SVP for Schneider Electric’s Sustainable Business Division. “By adding the Zeigo technology and team to our existing portfolio of services and solutions, we will be able to provide even greater value to our clients worldwide.”