In 2019, I realized how difficult it is to buy and sell renewable energy. I was working for a leading renewable energy power plant developer, and my job was to originate and negotiate contracts – known as Power Purchase Agreements or PPAs – which are required to finance and construct renewable energy power plants. Clean power plant developers pre-sell the energy they are going to produce in order to secure funding to build their plants. Businesses buy that energy to offset their carbon emissions at a reasonable price.
Sourcing and evaluating PPAs, however, is unreasonably difficult. While many of today’s largest renewable energy buyers, such as Amazon and Meta, have built in-house expertise in renewable energy procurement, newer entrants to the market lack tools to level the playing field. For most prospective buyers, the only way to access the market is to hire an expensive consultant to source and analyze potential PPAs on their behalf. Even then, some deals take over a year to negotiate and have transaction fees of more than $2 million. The traditional way of doing these deals is heavily intermediated, unnecessarily inefficient, and exorbitantly expensive. To effectively combat climate change, we need a better solution.
Since then, my team and I have been building that solution. And today, we’re thrilled to launch RenewaFi.
RenewaFi helps companies and utilities buy renewable energy directly from clean power plants. Instead of spending sizable fees and months of effort to source and evaluate complex energy deals manually, RenewaFi allows companies to build customized digital auctions for renewable energy, connects them to top responses from power plant developers, and provides analytical tools that enable them to choose the right deal.
RenewaFi accelerates the process for finding and evaluating renewable energy deals.
Using RenewaFi, any company or power plant developer can initiate a highly customized digital auction that specifies the parameters for the renewable energy they are looking to transact. As proposals come in from across the marketplace, each is analyzed, filtered, and ranked based on the specific criteria of the party who initiated the auction. The platform then provides powerful data visualization and contract automation tools to help identify the optimal deal for both parties.
With RenewaFi, the PPA process is:
RenewaFi has already helped energy buyers and sellers save months of effort and hundreds of thousands of dollars in fees.
Nearly 50 market participants are already active in the marketplace, including Fortune 500 companies, utilities, commodity experts, and investment banks as well as power plant developers representing over 200 gigawatts – or more than $200 billion worth – of proposed renewable energy projects.
One of our first customers, David Perez, who leads Power Origination and Business Development at Energy Transfer, said:
“RenewaFi’s technology is a breakthrough for the renewable sector. Over a more than 20-year career, I had not considered using a third party – let alone software – to help my team optimize PPA contracting, but RenewaFi changed my perspective. The technology is designed intelligently, gives users extreme flexibility, saves a ton of time, and is priced affordably. I believe RenewaFi has the potential to define the future of renewable energy contracting.”
Moritz Bernhoerster, who joined our marketplace when he was Global Director of Renewable Energy Procurement at Anheuser Busch InBev, said:
“RenewaFi is the only solution that truly allows buyers to quickly determine high quality deals without wasting a lot of time on deals that will not materialize. And besides accelerating the process, RenewaFi’s solution minimizes contracting risks, provides exhaustive commercial term sheets, and offers instant CFO-level financial analyses for internal approvals. The solution is simple, safe, and transparent.”
We’re excited to announce our first fundraising round.
Building on our initial traction, we recently closed $3 million in seed funding. Our new investors include world-class venture capital firms and angels, including:
We’re using this new funding to further enhance our technology, expand our team, and accelerate our go-to-market strategy.
Ultimately, our mission is to decarbonize the world’s electrical grids by helping every business invest in renewable energy.
Many of the ways that we, as a society, plan to combat climate change involve using electricity instead of fossil fuels to power our lives. But for electrification to work, the electrical grid itself must be powered by renewable energy rather than fossil fuels.
To decarbonize the electrical grid, we need to build clean power plants to replace existing, fossil fuel-powered ones as quickly as possible. Developers want to produce more renewable energy, and an increasing number of companies and utilities want to buy that renewable energy through PPAs. They just need a better way to find each other.
That’s where RenewaFi comes in. By eliminating PPA pain points, RenewaFi increases the total transaction capacity of the renewable energy industry. This expanded capacity is critical to accelerating the more than $2.5 trillion of projected investment needed to decarbonize the U.S. power sector.
If you are a sustainability leader looking to enter into PPAs, we would love to show you how RenewaFi can help achieve your goals. Please request a demo of our marketplace.
We’re also hiring! If you are a power originator or software engineer inspired by our mission to decarbonize the world’s electrical grids by helping every business invest in renewable energy, please visit our careers page.
We can’t wait to hear from you.
Noam Yaffe, Founder and CEO
+1 (443) 421 2659
Our team of renewables experts would be pleased to demo our solution for youRequest a Demo
RenewaFi LLC (“RenewaFi”) offers a renewable energy marketplace. Users are cautioned that the RenewaFi marketplace is not a “swap execution facility” or registered as such with the Commodity Futures Trading Commission (CFTC). Unlike an exchange or a swap execution facility, the RenewaFi marketplace is not designed for RenewaFi market participants to place orders for standardized and tradable financially settled contracts, or to execute such contracts on the RenewaFi marketplace. The RenewaFi marketplace is a tool primarily used to help RenewaFi market participants source and interpret information. Further, users and other RenewaFi market participants will not be permitted to initiate auctions, nor should they submit proposals, to enter into a renewable energy transaction, unless the transaction is intended to be physically settled. Auctions for financially settled renewable energy transactions cannot and should not be conducted on the RenewaFi marketplace.
For further information about financially settled transactions in renewable energy commodities, please contact email@example.com for consulting services with RenewaFi. RenewaFi is a New York-based, CFTC-registered Commodity Trading Advisor (Swap Firm), as well as a member of the National Futures Association (NFA). Information provided on this website is not to be considered advice, and the use of this website does not establish a customer relationship with RenewaFi. Commodity trading can be complex and involves substantial risk of loss. The use of RenewaFi software or services does not guarantee performance. RenewaFi does not provide legal services or advice. Renewable energy participants should hire and retain professional legal counsel prior to using RenewaFi software and evaluating or executing any commodity transactions.