Pexapark has teamed up with S&P Global Commodity Insights to create renewable energy price indices to help create more transparency in renewables markets.
The collaboration will combine Platts’ benchmark expertise with Pexapark’s reference pricing of renewable power purchase agreements (PPAs) across European markets.
Powered by Pexapark’s data set, technology and price assessment methodology, coupled with S&P Global Commodity Insights’ Platts index methodology, the new daily price indices will provide “enhanced transparency and risk assessment capabilities” for renewable energy market participants.
“As the energy transition gathers momentum around the globe, benchmark pricing for sustainable energy is crucial for the evolution and growth of the renewable energy market,” said Alan Hayes, head of energy transition pricing for S&P Global Commodity Insights.
“This new family of renewable energy indices will combine the independence and methodology rigor of Platts benchmarking processes with Pexapark’s established price data, technology and expertise in this growing and important sector.”
Under the agreement, Pexapark will provide evaluated prices for PPAs in solar and wind to S&P Global Commodity Insights for the joint development of renewable energy price indices.
These indices will “help facilitate growth in deal making” for PPAs by creating benchmarks for the market, which S&P Global Commodity Insights expects to play a central role in the renewable energy expansion that will underpin much of the corporate and government energy transition strategies.
“We welcome the opportunity to use our wealth of renewable energy price data to launch new indices backed up by the significant benchmarking experience of S&P Global Commodity Insights,” said Michael Waldner, co-founder and CEO at Pexapark.