DNV GL has launched a digital power purchase agreement (PPA) tool to help corporate buyers source renewable electricity supplies.
An initial user of the Instatrust PPA demand tool is a large European telecom and technology provider, which is successfully sourcing 100 gigawatt hours.
The certification company said the tool has generated “great levels of interest” with more than 800GWh of project volumes submitted in two weeks.
The telecoms client was able to source the supplies to meet its demand in two to three hours and gave a 91% PPA matching score to preferences for four promising opportunities, DNV GL said.
In total 1370GWh of volume has been added to the platform as a result of this PPA demand, potentially enabling DNV GL’s customer to meet its demand needs nearly 14 times over.
Instatrust provides an automated scoring of the projects submitted, based on DNV GL’s proprietary scoring methodology, which leverages extensive track-record and expertise in services such as due diligence.
DNV GL global Instatrust head Caroline Brun Ellefsen said: “Introducing an innovative digital way of meeting green power sourcing goals with a corporate buyer such as this telecom provider as a launching customer has been really amazing.
“The size and complexity of this particular demand have thoroughly tested our concept and we have many lessons learned that will help both buyers and sellers in accelerating the PPA process while managing their risks better.”
The PPA demand tool was developed to bring more transparency and liquidity to the PPA market and delivers “much more quick and efficient sourcing” than traditional Request for Proposal processes.
Instatrust also provides in-depth analytics to support navigation between PPA opportunities.