APX, Inc., the leader in building solutions for today’s advanced energy paradigm, announces the expansion of its Tradable Instruments for Global Renewables℠ (TIGRs) product line to include a standardized and transparent way for corporates to purchase renewable energy through TIGR PPAs.
Last year, APX launched TIGRs to allow entities to safely transact renewable energy attributes (RECs) globally. Renewable energy project developers and corporate purchasers are utilizing TIGRs as a standard method to clearly demonstrate their commitment to the use of renewable energy. Corporate clients of all sizes are now looking for a solution to streamline and standardize renewable power purchase agreements. APX, as a result, is launching TIGR PPAs, leveraging the trusted and market neutral infrastructure already available.
“As a pioneer in the REC industry and one of the first participants in the wholesale energy markets, APX is very excited to bring to market a product that will lower the barriers for corporates of all sizes in procuring renewable energy globally,” said Joe Varnas, CEO at APX. “We are launching a neutral, open platform that allows all organizations to contract for PPAs and manage their renewable energy investments.”
“Industry infrastructure supporting corporate PPAs has not caught up to the headlines about explosive growth in this market. Project developers are left to adapt as previously they marketed to 100% off takers. Corporates are struggling to take advantage of the sizable benefits of renewable energy purchasing and retailers & brokers are attempting to fill the void with proprietary solutions,” offered Lars Kvale, Head of Business Development & Sales at APX.
TIGR PPAs are designed to fulfill the needs of all these parties with an extension to our existing, time-tested infrastructure.
Benefits for Project developers:
- • Standardized PPA contract terms
- • Ability to aggregate demand from multiple corporate purchasers
- • Standardized invoicing and settlement of contracts
- • Regulatory reporting
- • Meet corporate audit requirements with independent performance reporting
Retailers:
- • Ability to aggregate demand as part of the TIGRS dealer network.
- • Standardized invoicing and settlement of contracts
- • One platform to manage corporate client contracts
- • Transparent performance measurement
Purchasers using TIGR PPAs will benefit from:
- • Standardized PPA contract terms
- • Standardized contract auditing
- • Regulatory reporting
- • Seamless integration and accounting for TIGR/REC purchases globally
Media contact: Lars Kvale, lkvale@apx.com or 408-517-2137
About APX
For over 15 years, APX has been the trusted infrastructure and services provider to the power and environmental markets. APX’s experience intersects every aspect of the renewable energy and voluntary carbon markets. Our proprietary grid scheduling, settlement and dispatching systems, integrated with SCADA and forecasting, provide a full suite for renewable energy generators. We operate over 13 renewable and carbon registries worldwide. More than 2,000 companies globally rely on APX products and services for integrity in environmental markets with more than 1 billion credits transacted.