Connect with us

Hi, what are you looking for?

Level Ten Energy has expanded its operations to Europe, where power purchase agreements are becoming more common. In the UK, 290 universities have agreed to source their electricity from wind farms using PPAs.

Clean Power

Level Ten Energy Expands To Europe As Interest In Power Purchase Agreements Expands

Level Ten Energy has expanded its operations to Europe, where power purchase agreements are becoming more common. In the UK, 290 universities have agreed to source their electricity from wind farms using PPAs.

Last June, Level Ten Energy raised $20.5 million in its latest funding round. At the time, CEO Bryce Smith told CleanTechnica, “Historically, excessive market opacity, cost and risk prevented all but a select group of Fortune 500 buyers from signing utility scale power purchase agreements. This exclusionary problem is one we’re committed to addressing. The latest round of $20.5 million will be used to expand its suite of products/services, expand to Europe, and hire more team members both in its Seattle HQ and in Europe.” The graphic below illustrates the company’s business model.

As promised, the company announced on October 3rd that it has begun European operations. “We’re committed to making the global renewable energy market more accessible, transparent, and efficient,” says Smith. “By opening our Marketplace to European developers and buyers, we’re following through on our mission to expand renewable markets by dramatically improving the transactions.”

In a press release, LevelTen said its Marketplace platform reduces the cost, complexity, and risk of renewable energy power purchase agreements by offering advanced analytics, standard documentation, and process best practices to both buyers and sellers. Since the platform’s launch, Fortune 500 companies have procured more than one billion dollars of clean energy using LevelTen’s technology.

In addition to its Marketplace platform, the company offers end-to-end procurement services that help corporate buyers research, procure, and monitor renewable energy investments from start to finish, bringing market transparency and rigorous standards to this fast-growing market.

20 Universities In The UK Sign Up For Renewable Electricity

As if to underline what Level Ten Energy is saying about the expansion of power purchase agreements on the other side of the Atlantic, 20 universities in the UK have banded together to sign a 10-year PPA with Norway’s Statkraft, which operates wind turbine facilities in the UK. This marks the first time public sector energy users in the UK have come together to buy electricity from renewable sources.

James Rolfe, the chief operating officer at Anglia Ruskin University, tells iNews his university has joined others in declaring a climate emergency. “We aim to source all of our electricity from zero carbon sources by 2025, and this power purchase agreement makes a significant contribution towards this goal whilst delivering financial savings and budget stability,” he says.

The allure of PPAs is their ability to guarantee stable prices for electricity over a term of 10, 15, or 20 years, something that utilities which rely on fossil fuels cannot do. Turmoil in areas of the world where oil, gas, and coal are produced can send the cost of energy soaring. Well-managed companies cherish predictability, something that PPAs are very good at providing. The fact that many of them provide electricity below what most conventional utility companies can offer is just icing on the cake.

I don't like paywalls. You don't like paywalls. Who likes paywalls? Here at CleanTechnica, we implemented a limited paywall for a while, but it always felt wrong — and it was always tough to decide what we should put behind there. In theory, your most exclusive and best content goes behind a paywall. But then fewer people read it! We just don't like paywalls, and so we've decided to ditch ours. Unfortunately, the media business is still a tough, cut-throat business with tiny margins. It's a never-ending Olympic challenge to stay above water or even perhaps — gasp — grow. So ...
If you like what we do and want to support us, please chip in a bit monthly via PayPal or Patreon to help our team do what we do! Thank you!
Sign up for daily news updates from CleanTechnica on email. Or follow us on Google News!

Have a tip for CleanTechnica, want to advertise, or want to suggest a guest for our CleanTech Talk podcast? Contact us here.

Written By

Steve writes about the interface between technology and sustainability from his home in Florida or anywhere else The Force may lead him. He is proud to be "woke" and doesn't really give a damn why the glass broke. He believes passionately in what Socrates said 3000 years ago: "The secret to change is to focus all of your energy not on fighting the old but on building the new."


You May Also Like

Clean Power

Google & LevelTen Energy are dialing the renewable energy industry up to 11 with a new streamlined system for negotiating power purchase agreements.

Clean Power

Expect a lot more announcements about shutting down hydrogen for energy projects like the recent one from Equinor, Aire Liquide, and Eviny.

Clean Power

Electrification and heat pumps radically reduce the requirement to build new wind, solar, nuclear, hydro, and geothermal primary energy sources.

Carbon Pricing

The Trans Mountain Pipeline was a bad idea from the start. Dropping federal opposition to it in 2016 to bring in the carbon tax...

Copyright © 2023 CleanTechnica. The content produced by this site is for entertainment purposes only. Opinions and comments published on this site may not be sanctioned by and do not necessarily represent the views of CleanTechnica, its owners, sponsors, affiliates, or subsidiaries.