RenewaFi Marketplace Grows to Exceed 150 Energy Professionals from Over 50 Companies
Head of Strategy & Marketing
RenewaFi today announced that its marketplace for ERCOT renewables has grown to exceed 150 originators and traders from over 50 companies.
Featuring a nearly 50/50 balance of potential buyers and sellers, these marketplace participants include many of the largest, most reputable, and most experienced energy firms in the country.
Of the 51 companies on RenewaFi, 26 are potential offtakers who self-categorize as wholesale, industrial, or retail firms. 16 of these potential offtakers are investment grade and 18 have contracted at least 500 MW in their corporate histories. This group serves about 60% of the deregulated (non-utility) load in ERCOT.*
Among the 25 developers on RenewaFi, 11 are investment grade and 23 have contracted at least 500 MW in their corporate histories, many touting multi-GW pipelines.
Most of the individuals representing these firms are seasoned professionals. About 60% are manager/director level or higher.
Together, these market participants are laying the foundation for a vibrant renewable energy marketplace. Since April, they have posted nearly 340 bids and offers for over 8 GW of solar and wind capacity. Several matches for new offtake agreements have already been made.
*Source: EIA form 861
RenewaFi is the marketplace for wholesale renewable energy in ERCOT. Built for originators by originators, RenewaFi helps more than 150 energy professionals from over 50 firms to price and source offtake agreements, so they can focus on closing deals. Originators on RenewaFi browse, post, and counter indicative bids and offers – all anonymously. And when originators agree on terms, they match to reveal their identities. RenewaFi increases speed to market, facilitates price discovery, and expedites counterparty matching. Ultimately, the company’s mission is to help energy professionals decarbonize America’s electric grids.
Interested in joining the marketplace? We’d be delighted to set you up.
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. 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.