Pexapark, a provider of software and advisory services for clean energy Power Purchase Agreements (PPAs), recently launched PexaConnect, a new community platform for businesses involved in renewable energy to virtually meet and communicate their activity. PexaConnect is free to use and allows users to view and add to a directory of businesses involved in PPAs and renewable assets, including renewable energy buyers and sellers, legal and commercial advisers, and lenders.
While a number of high-volume deals have been signed over the past few years, the renewable energy PPA market is still in its early stages. There can be a lack of transparency around which companies are involved in closing deals, beyond the vendor and buyer, which places limitations on companies looking to enter the market without initial connections. As such, Pexapark has developed this platform to give users the opportunity to not only connect with other professionals in the PPA market, but also advertise their own experience buying, selling, or advising on deals.
“Knowing who to contact, and who has worked on specific deals, can be crucial for businesses who have just entered the market to begin setting up these agreements,” said Michael Waldner, CEO of Pexapark. “We’re confident that this platform will help keep up the momentum of the PPA market beyond face-to-face meetings and conferences. This will be particularly critical in the coming weeks given current global disruption.”
“Over the years, we have developed a number of digital tools to give companies the insight necessary across the whole PPA lifecycle to sign better deals, faster, and thereby create investor certainty when transitioning to a more open market,” he said. “PexaConnect takes a step back, and gives users broad, initial visibility into the market, allowing them to set deals into motion. This new platform will become the leading destination for renewable company insights from developers to investors to offtakers — a LinkedIn for renewables.”
More than 60 executives from renewable energy buyers, sellers, and consultancies, including Innogy, VSB Group, and Vestas, trialed the platform’s beta version, anticipating that PexaConnect will soon become a comprehensive tool for companies involved at all stages of renewable energy PPAs.
Beta users commented that the platform would enable them to get in touch and keep in touch, even with travel restrictions in place, with potential partners for future deals. Beyond the networking element, many beta users new to the PPA market noted the platform’s potential as an educational resource, as other users can collaborate and contribute the information and expertise to bring the total knowledge of the industry forward.
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