January 23, 2019

GERONIMO BLOG: We’re Setting the Table for All Types of Buyers

“Yet-Another-Corporation Achieves 100% Renewable/Sustainability Goal Through VPPA.”

You’ve probably seen many headlines just like this. It can be exciting! It can be progressive! It can be… daunting.

If you’re considering a VPPA to meet your sustainability goals, you may feel like the complications and intricacies of VPPA contracts are holding you back from taking the next step. You’ve done the research, you’ve talked with your peers – and you still may be asking yourself, “But is this right for me?”

Rachit Kansai of the Rocky Mountain Institute brings up this exact point in his recent blog titled, “The Diversifying Corporate Renewable Market Needs a Broad Menu of Risk Mitigation Options.” He uses the example of excitedly sharing a favorite dish, Thai Peanut, with a large group of friends – only to discover that this one-size-fits-all, simplified plate doesn’t work for all of his dinner guests. To his dismay, a vegetarian, a vegan, a pescatarian, a guest with a peanut allergic, and a guest with spice sensitivity cannot participate in his single-serve meal.

Mr. Kansai uses his blooper to exemplify the historically oversimplified market for corporate renewable energy procurement. “A restaurant with just one specialty, no matter how good, can never cater to a large and diverse group of customers… So, too, for corporate renewable procurement. It should be obvious that a market with one major way to transact, no matter how good, can never sustainably expand.”

I agree. And I’m excited by the recent changes in the corporate renewable energy procurement marketplace, which is why the Geronimo Energy team and I participated in and contributed to the Business Renewables Center’s (BRC) new white paper, A Corporate Purchaser’s Guide to Risk Mitigation. This white paper outlines new solutions, including risk mitigation tactics, that are opening doors to companies, universities and organizations previously unable to participate in the market. Developers, finance partners, and buyers alike are embracing the idea that one size does not fit all and together, are working hard to remove the old roadblocks that the Instant Pot version of the Virtual Power Purchase Agreement (VPPA) may have presented for some buyers. Together, we’ve come up with creative solutions to mitigate risks related to price, shape, basis, volume and project operations. Contracts are now more flexible than ever, offering modifications such as shorter terms, hub settlements, and aggregation solutions, among other variances from previous VPPAs.

At Geronimo Energy, we’ve contracted over 300 megawatts (MW) of corporate VPPAs in the last year alone, and through our extensive community solar portfolio, we’ve subscribed nearly 200 individual companies to 200+ MW of community solar projects. We’re working with some of the nation’s largest corporations, as well as several smaller organizations and companies who just five years ago, may not have been able to access renewable energy procurement as a method to achieving their sustainability goals. We are on the front lines of corporate renewable energy procurement, and we’re excited to see the industry advancing, growing, and making room for all types of buyers.

As an industry, I think we’ve just started to co-author a new menu for increasing renewable energy procurement and overall market participation, and I’m excited to see who comes to the table.

So bring your ideas, and we’ll bring ours – and together, we can prepare a feast that includes, in Mr. Kansai’s words, “options for a growing set of risk appetites and profiles.”

Denise Hugo is Geronimo Energy’s Director of Origination. Ms. Hugo specializes in corporate renewable energy procurement for Geronimo Energy’s entire wind and solar project portfolio, including procurements ranging in size from 10 MW aggregated contracts to 400+ MW anchor contracts.


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September 23-29

Climate Week NYC 2019

New York City, NY

Climate Week continues to grow as the time and place for the world to showcase amazing climate action and discuss how to do more. Meet us there for a week-long series of events reflecting the core pillars of the UN’s summit!

September 23-26

Solar Power International and Energy Storage International

Salt Lake City, UT

North America Smart Energy Week, which hosts Solar Power International and Energy Storage International, is the largest gathering of solar, smart energy, energy storage and hydrogen fuel cell professionals in North America. Join Geronimo Energy for four days of networking, education, and innovation that moves the industry forward!

October 6-9

EEI National Key Accounts Workshop

Las Vegas, NV

Come join us at the EEI National Key Account Workshop as we expand our knowledge on energy in the marketplace and dive deeper into technology, managing energy, sustainability, supply, and fundamentals of energy during various breakout sessions.

October 8

Great Plains and EmPower North Dakota Energy Conference

Bismarck, ND

Great Plains and EmPower North Dakota Energy Conference will explore diverse energy topics on the state, regional and national level. Meet Geronimo Energy in Bismarck for the 13th year of this event!

October 8-10

NAEMA 2019 Fall Conference

Scottsdale, AZ

The North America Energy Markets Association (NAEMA) 2019 Fall Conference will cover key issues by industry experts and thought-leaders. Head to Arizona to learn and network at this regional event.

October 8-11

MMEA 2019 Fall Conference

Acme, MI

The Michigan Municipal Electric Association (MMEA) 2019 Fall Conference is set to focus on all things renewable in Michigan. Join Geronimo Energy as we develop our knowledge on Michigan’s relationship with renewable energy.

October 10-11

AWEA Wind Energy Finance & Investment Conference

New York, NY

Geronimo Energy is headed to American Wind Energy Association (AWEA) Wind Energy Finance & Investment Conference in New York City for high impact meetings, innovative sessions, and cutting edge education to cultivate business connections with top bankers, financial leaders, developers, and corporate decision makers leading the industry forward.

October 15-16

GCPA Fall 2019 Conference

Austin, TX

The Gulf Coast Power Association (GCPA) Fall 2019 Conference is the power industry’s leading electric power conference for the ERCOT and Gulf Coast regions. Geronimo Energy is looking forward to getting updated on the latest energy developments in ERCOT.