Renewable energy procurement

Trusted, proven transaction expertise.

Renewable energy power purchase agreements (PPAs) give companies, cities and universities the ability to make big strides in meeting their carbon reduction and renewable energy goals and importantly, drive the transition to a low-carbon economy.

Through the Transaction Center of Excellence, 3Degrees has built a team and a set of  proprietary tools and resources dedicated to helping organizations achieve their sustainability goals. The Transaction Center of Excellence is focused on only one thing: working with our clients to develop optimized renewable energy transaction strategies and execute value-aligned contracts. “Value” is decided by each client and may include impact, cost, additionality, location and/or risk profile. To do this, we navigate wholesale power markets, engage and educate stakeholders, manage procurement processes, provide deep qualitative and quantitative project analysis and lead contract negotiations.  

Our team of experienced professionals has a diverse set of skills and expertise including wind and solar development, wholesale energy markets, financing, contract negotiation, asset and contract management, green tariffs and both on-site and off-site experience. This deep experience from all sides of the transaction provides a robust body of knowledge that directly benefits our clients.

Key team members

Kourtney Nelson – Director, Energy & Climate Practice

“I love working on transactions with our clients because the buyers are 100% voluntary, so these are new renewable energy projects and there is real impact.”

Tyler Espinoza – Manager, Energy & Climate Practice

“I love the challenge of decarbonizing the largest machine on the planet–the electric power grid.”

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Carolyn Campbell – Manager, Energy & Climate Practice

“I believe companies can drive our transition to a low carbon economy.”

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Erin Craig – VP, Energy & Climate Practice

“No single renewable energy supply strategy is right for everyone.  But for everyone I’ve worked with, we’ve found a renewable energy supply strategy that’s right!”

We take a hands-on, personal approach with our clients to deliver best-fit renewable energy solutions that reduce greenhouse gas (GHG) emissions, mitigate risk and control costs. We know that each organization has unique values and challenges, so we tailor our work to ensure that the individual needs of our clients are met. As a result, our work can range from one large contract to a diversified portfolio implemented over time.

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45 Renewable energy projects

1850 MW of renewable power transactions

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Consulting in 25+ countries

“3Degrees was instrumental in providing both in-depth quantitative analysis along with real-world expertise that allowed us to quickly zero in on the best opportunities for BART.”

— Holly Gordon, Sustainability Group Manager, BART

Renewable energy transactions experience

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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.
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Aggregated renewable energy procurement for four companies
  • In this first-of-its-kind endeavor for corporate aggregation, our team led an aggregated procurement process whereby four companies jointly executed multiple VPPAs. In order to meet each organization’s individual needs, we tailored our energy benchmarking and analysis as well as strategy planning for each client. Ultimately, we successfully led and coordinated the negotiations with two developers for six VPPAs, totaling 290 MW of new renewable energy.
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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.

Thinking about a renewable energy transaction?

Here’s how we can help


 

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Engage and educate: PPAs and VPPAs are new contract structures for most organizations. We help identify, engage and educate key stakeholders across the organization on the mechanics, risks and value of PPAs.  

Evaluate projects: Project selection isn’t just about price. We help clients make an apples-to-apples comparison to understand and evaluate tradeoffs. In addition, we perform deep due diligence to reveal potential hurdles to project completion–and recommend strategies for protecting clients.

 

Identify project opportunities: 3Degrees believes that a competitive procurement process solicits the best and most up-to-date proposals from the market. Other advisors rely on proprietary project databases to find project proposals but in our view these limit the reach of the solicitation and can become quickly out of date due to the dynamic renewable energy project development process.

Stress test outcomes: Each market, project and developer present different risk profiles. And every client has a different risk appetite. We help our clients understand the range of possible outcomes to inform decision making and avoid unpleasant surprises after executing a deal.

Risk mitigation: Understanding PPA and VPPA risks is only part of the equation. We make sure that risks are properly addressed in contract terms and conditions in order to protect our clients.

What makes us different

  • Creative approach: We don’t offer cookie-cutter services or contracts. Our clients have diverse needs and we tailor our work to ensure that our approach and recommended contracts meet each client’s particular profile.
  • Proven experience: Combined, our team has over 6.5 gigawatts of renewable energy transactions experience across all major US power markets and in more than 25 countries.
  • Fair and transparent pricing: Our core mission is to support renewable energy development and we believe the best way to do that is provide complete information about our fee structure to both buyers and developers.
  • We are a 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 help our clients identify strategies which will succeed in their unique context.
  • Independent, 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.
  • Passion for transactions: From VPPAs to physical PPAs to retail contracts, we love helping our clients successfully execute contracts that meet their priorities, whether that’s reducing energy and REC market risk, building their brand, supporting their local community or hedging long-term costs.

Interested in learning more?

Contact us