- Schneider Electric has acquired renewable energy online procurement platform Zeigo
- It sees the acquisition as expanding its renewable energy and resource management solutions portfolio
- Zeigo’s business model uses machine learning to connect wind and solar energy producers with organizations having more than 5GWh energy consumption
Zeigo, the online procurement platform for solar and wind energy for businesses, has become a part of French energy and automation company Schneider Electric as the latter expands its portfolio of renewable energy and resource management solutions.
Under its business model, Zeigo brings together renewable energy developers and suppliers selecting projects using machine learning, and runs a power purchase agreement (PPA) tender process for energy procurers. It enables companies with consumption of over 5GWh to sign a wind or solar PPA.
Zeigo claims its online process helps make renewable energy procurement less time-consuming and complicated.
Through its corporate renewable energy team, Schneider Electric enables businesses identify and negotiate for renewable energy projects and cleantech products.
“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 SVP for Schneider Electric’s Sustainable Business Division, Steve Wilhite. “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.”
In September 2021, a Schneider Electric and Bloomberg New Energy Finance (BloombergNEF) claimed that the world holds potential to install 2.2 TW customer sited solar capacity by 2050, along with more than 1,000 GWh of energy storage (see Study Finds 2.2TW Global Rooftop Solar Potential).
As organizations commit to lower their carbon footprint for socio-economic reasons, the market for renewable energy procurement will continue to grow. According to BloombergNEF, in 2018 corporations across the globe purchased 13.6 GW clean energy, a number that increased to 20.1 GW in 2019 and 23.7 GW in 2020 (see 23.7 GW Corporate Clean Energy PPAs Signed In 2020).