Businesses across Europe will now be able to easily identify and procure their energy from renewable sources.
The RE-Source Platform has been created by SolarPower Europe, WindEurope, RE100 and World Council for Sustainable Development.
The platform has been launched for businesses across the European energy market.
RE-Source benefits from pooled resources which aims to encourage improved energy policy on both a national and continental level.
Under the scheme and by using Power Purchase Agreements, renewable energy providers can supply directly to businesses, rather than businesses having to buy directly from the power market.
This is likely to guarantee a stable supply for most businesses and allows them to reduce the risk of power shortages along with a stable pricing structure.
WindEurope CEO, Giles Dickson, stated: “You get clean electricity first of all.”
“Secondly, you lock in part of all your energy costs because these are long-term agreements, it can be up to 15 years.”
“Normally when you’re buying electricity from the power market, the prices go up and down depending on what’s happening with oil prices, gas prices and coal prices.”
“When you sign on to these corporate renewable PPAs, you’re not exposed to those volatile fossil fuel process because you’ve locked in at a fixed price the cost of your renewable electricity that you buy.”