OIA’s Virtual Power Purchase Agreement (VPPA) Aggregation CoLab is focused on helping Climate Action Corps member companies source renewable energy for operations in the U.S. and Canada through a Virtual Power Purchase Agreement (VPPA) aggregation. By bringing companies together and aggregating each company’s electricity load, we can create a large enough demand to spur the development of a large-scale renewable energy project that provides solar or wind-powered electricity at a competitive price. We seek to bring together Corps members to create a critical mass for a collaborative outdoor industry renewable energy project. This VPPA Aggregation CoLab can help Corps members to:
- Successfully implement a large-scale renewable energy project in the U.S.
- Realize significant and measurable scope 2 GHG emissions reductions (scope 2 GHG emissions = carbon emissions associated with the generation of electricity).
- Have measurable cost savings in procuring renewable energy.
A Virtual Power Purchase Agreement(VPPA) is a financial “contract for differences” between a buyer(s) and a renewable energy developer in which the buyer(s) commit to a fixed price for energy ($/MWh) from a large-scale renewable electricity project (e.g., a solar or wind farm). The energy generated by the project is sold into its local grid at the market price. The buyer receives renewable energy certificates (RECs) and the difference between the fixed MWh price they agreed upon and the floating market price. VPPAs can also generate revenue for companies that invest in them, in addition to providing renewable energy
This CoLab is for all Corps members who have facilities in the U.S. and/or Canada. Interested in learning more? Contact our team.