RenewaFi Introduces Major Enhancements to Marketplace
RenewaFi, the marketplace for wholesale energy in ERCOT, today announced three new features to help originators and traders source and evaluate power hedges even more efficiently. Taken together, these new features allow market participants to select their preferred counterparties and chat directly with them and others about an increasing variety of renewables transactions.
Noam Yaffe, Founder and CEO, said: “These new features make it far easier for market participants to both identify and pursue quality opportunities on RenewaFi. By introducing new ways to engage, these features will promote trust, expedite negotiations, and create more liquidity. We are continually grateful for our users' feedback, which directly inspired these product enhancements, and look forward to introducing more capabilities soon."
Specifically, the new features enable users to:
- Indicate preferred counterparties
RenewaFi market participants can now indicate their preferred counterparties in the marketplace. Once they do, they’ll see a green check next to any bid, offer, counter, or match request that was posted by any of their preferred counterparties. This will help market participants navigate RenewaFi according to their personal relationships, building trust and enabling them to focus on opportunities with higher chances of success.
- Chat directly with counterparties
Second, RenewaFi market participants can now chat directly and anonymously with 185 potential counterparties in the marketplace. Chat is enabled whenever market participants are close on price or exchange a Match Request. The chat function will allow market participants to reach consensus on deal terms faster and more conveniently, without intermediation.
- Post, counter, and match on block transactions
Third, RenewaFi market participants can post fixed hourly shapes on RenewaFi beyond traditional wind or solar shapes. This will provide market participants with more flexibility in hedging their portfolios.
RenewaFi is also working to add additional transaction types to its marketplace in the near future. The company’s vision is that originators and traders will turn to RenewaFi to source a variety of renewable energy deals.
For more information on these new features, or to request a demo of the marketplace, please contact John Choi at john@renewafi.com
About RenewaFi
RenewaFi is the marketplace for wholesale renewables in ERCOT, helping sophisticated market participants source and evaluate hedges. Originators and traders on RenewaFi browse, post, and counter indicative bids and offers – all anonymously. When market participants agree on terms, they match to reveal their identities and pursue bilateral negotiations. RenewaFi increases speed to market, facilitates price discovery, and expedites counterparty matching. Since April, more than 185 originators and traders have posted over 10 GW of renewables on RenewaFi.
