Schneider Electric Acquires Renewable Energy Platform Zeigo to Expand Digital Procurement Capabilities Globally
*Machine learning technology will further enhance Schneider's market-leading advisory services
*The acquisition expands company's portfolio of digital renewable energy and resource management solutions
"Zeigo is delighted to join forces with
Renewable energy procurement surges as net-zero ambitions reach tipping point
Organizations face increasing pressure to decarbonize as climate risks and global ambitions for an equitable energy transition both accelerate. For the past 10 years, one of the most common and effective means for companies to begin to decarbonize has been utility-scale renewable energy power purchase agreements (PPAs). To date, organizations have voluntarily purchased more than 77 gigawatts of wind, solar, and geothermal power via PPA[1].
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 decarbonization aspirations to a 1.5 degree Celsius global warming threshold. A further 300+ corporations have joined the
Mind + machine approach advances the energy procurement process
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 best-in-class advisory services,
"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
The acquisition of the Zeigo machine learning algorithm and 20-person team further contributes to
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