POWER PURCHASE AGREEMENTS

Trusted, proven corporate PPA transaction expertise

Power purchase agreements (PPAs) and virtual power purchase agreements (VPPAs) enable organizations to make big strides in meeting their global carbon reduction and renewable energy goals and, importantly, drive the transition to a low-carbon economy.

3Degrees works with our clients to develop optimized renewable energy transaction strategies and execute value-aligned contracts. “Value” is defined by each client and may include carbon reduction, cost, additionality, location, and/or risk profile. Our team has deep experience in all sides of the transaction, including wind and solar project development, wholesale energy markets, financing, contract negotiation and contract management, and performance monitoring. This robust body of knowledge directly benefits our clients.

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PPA TRANSACTION SERVICES

3Degrees provides end-to-end support for international renewable energy transactions including developing procurement strategies, soliciting proposals and executing value-aligned contracts, and managing contracts post-execution.

Our process for supporting competitive procurement of renewable energy is built around providing tools, analysis, and expertise that supports our clients’ decision making and actions that will help them meet their goals.

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3Degrees can provide end-to-end transaction support or assist with discrete steps in the procurement process.

CASE STUDIES

How Mondelēz International is Reducing Global GHG Emissions

Mondelēz International set an ambitious goal to reduce its absolute GHG emissions in each of its four global operating regions. 3Degrees was hired to conduct an in-depth renewable energy strategy assessment, deliver a global roadmap, and support any resulting implementation work.  A VPPA was identified as the best-fit solution to meet the company’s goals, and 3Degrees ran an RFP, performed extensive project analysis, and recommended the most impactful, cost-competitive option. Mondelēz International signed a 12 year VPPA to purchase renewable energy from a 65 MW portion of a new solar farm in Texas — the company’s largest renewable energy transaction globally and its first PPA in the U.S.
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Solar and Wind PPAs for BART

BART, the largest energy user in Northern California, hired 3Degrees to assist with its renewable energy procurement efforts. 3Degrees provided comprehensive support starting with the creation and management of a competitive solicitation, performing deep qualitative and quantitative financial analysis including market-specific stress-testing and negotiating physical PPA contracts. BART made the unusual decision to select two projects and our team led contract negotiations for two PPAs in tandem for a 62 MW wind project and a 45 MW solar project, both located in California.
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VPPA to cover Akamai’s Texas cloud services

3Degrees is supporting Akamai Technologies in the creation and implementation of its global renewable energy strategy. As part of this work, we provided end-to-end support for a VPPA to source renewable energy from an 80 MW wind project in Texas. The project, which is slated to go online in 2018, will be used by Akamai to offset the energy use from their Texas cloud services operations, which are largely housed in co-location data centers. Read the case study >>

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Customized transaction analysis

One client asked us to provide a second opinion on their first VPPA. We provided a financial evaluation of the proposed deal to assess the potential value of the contract. We also assessed the merits, benefits and risks of the proposed contract, including a detailed review of the VPPA terms and conditions. Our final report was an objective outlook that enabled the client to successfully execute a VPPA over 100 MW. Another corporate client asked for our help with quantitative analysis of proposed VPPAs. We utilized our comprehensive financial evaluation methodology on behalf of the client to clearly identify the best opportunities.

Consulting Aggregation

“The signing of this VPPA is a major advancement towards achieving our aggressive global emissions reduction goals. We are thrilled about this partnership with Enel Green Power North America to help bring new renewable generation online, and appreciate 3Degrees’ strategic guidance and implementation support that helped make this transaction possible.”

— ERIKA SCHUNK VASCONCELLOS, GLOBAL ENVIRONMENTAL MANAGER, MONDELĒZ INTERNATIONAL

Why 3Degrees

  • Creative approach: All of our work is tailored to ensure that our approach and recommendations meet each client’s particular needs.
  • Proven experience: Combined, our team has over 4 gigawatts of renewable energy transactions experience with over 100 projects contracted globally including all major U.S. power markets, as well as Europe and Asia.
  • Fair, transparent pricing: We believe the best way to support renewable energy development is to provide complete information about our fee structure to both buyers and developers.
  • Trusted partner: We build long-term relationships with our customers by offering consistently high-quality advice and execution. We highlight the good news and the hard truths, and we work with our clients to identify strategies which are likely to succeed in their unique context.
  • Impartial advice: 3Degrees is privately held and not affiliated with a larger parent company, allowing us to provide impartial, solution-agnostic advice that is aimed solely at meeting our clients’ needs.

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