New sustainability-led marketplace for renewable energy: Instatrust
Instatrust, a new online sustainability-led marketplace for renewable power purchase agreements.
According to the marketplace, 170 corporations worldwide have committed to 100% renewable energy by 2050 at the latest.
The marketplace is designed to connect sellers with buyers that’re committed to buying clean energy with suppliers of wind and solar energy. Instatrust is aiming to create value for players including projects developers, asset owners, corporate energy buyers, trading firms, lenders and service providers.
Instatrust says currently in a testing stage. Sellers can sign up for free. Instatrust says that commercial terms will be reviewed after the piloting stage and they will charge merchants a “fair price” for their services.
What does Instatrust offer to sellers?
- Support to sellers in identifying and reaching out to active off-takers in the market.
- Support for potential corporate renewable energy off-takers in issuing tenders and screening projects based on DNV GL’s scoring methodology.
- Benchmarking projects in a quick and easy way to help energy buyers accelerate the procurement process with confidence.
“We know that we are just at the beginning of the energy transition, over the coming years we will see a rapid growth of renewable energy. Combined with the drastic reduction in costs as well as growing demand for corporate sustainability among investors and consumers, renewables have become an attractive possibility for corporations to implement that goal. We see that commitment from large corporations to buy renewable power will speed up the energy transition. The global power purchasing market is growing fast with regional characteristics and specific requirements. Instatrust will match sellers and buyers in a trusted environment, thus helping speed up the adoption of wind and sola.”
– Ditlev Engel, cheif executive officer, DNV GL – Energy
“The corporate PPA market needs to significantly scale up to avoid being a bottleneck in financing and building renewables. This growth in corporate PPAs will require an efficient and transparent market where stakeholders understand and mitigate emerging risks. Having analyzed over 65 GW of operational wind projects and supported over 6,000 solar projects worldwide provides us with unparalleled insights into the evolving energy sector.”
– Caroline Brun Ellefsen, Global Head of DNV GL’s Instatrust