A climate technology platform which helps businesses to source renewable energy has been acquired by Schneider Electric.
London-based Zeigo’s machine learning technology will enhance French multinational Schneider’s advisory services and expand its portfolio of digital renewable energy and resource management solutions.
Employing 20 people, Zeigo says it commands a leading market share in the US, Europe, Australia and emerging geographies like Brazil.
“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.”
Importance of PPAs
For the past 10 years, one of the most common and effective means for companies to begin to decarbonise has been utility-scale renewable energy power purchase agreements. To date, organisations have voluntarily purchased more than 77 gigawatts of wind, solar, and geothermal power via PPA – 13,000 megawatts via Zeigo.
The demand for PPAs is expected to grow as net-zero ambitions accelerate globally.
“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. My congratulations to Zeigo on this significant milestone.”