“We were delighted by the contribution [vPPAs] made to our sustainability goals but were frustrated by the financial volatility of the settlement payments and the limited ability we had to predict or manage that volatility,” wrote Kenneth Davies when he was director of energy portfolio management at Microsoft. Working with insurer Allianz and analytics firm REsurety, Davies came up with solutions including the proxy generation PPA, the volume firming agreement and the settlement guarantee agreement.
Data management company Iron Mountain has layered additional hedge contracts onto virtual power purchase agreements that it signed with two wind farms in 2016 and 2017 as it seeks to mitigate various risks associated with the popular renewable energy contracts. REsurety provided the valuation and risk analytics for the transactions, and will serve as calculation agent for tracking and settlement over the lives of the contracts.
Taaleri Energia announces the use of a 10-year Proxy Revenue Swap for its 336 MW Texas wind farm. REsurety provided risk analytics supporting the transaction, with the substantial majority of the power to be contracted under the PRS.
Scout Clean Energy reaches commercial operations at Heart of Texas. REsurety provided risk analytics to support a Proxy Generation PPA for the project.
Map-based SaaS tool provides unprecedented transparency and insight into clean energy markets, illustrating today how COVID-19 has impacted renewable projects and driven record-setting low prices.
Hedging structure allows Scout Clean Energy to manage risks associated with weather and price variability for its Heart of Texas wind farm.
Engie North America has signed another Proxy Revenue Swap; this time for its 160mw wind project, Jumbo Hill, in Texas.
Ares Management uses PRS structure to protect long term cash flows from a three-project portfolio in ERCOT totaling approximately 400MW of nameplate capacity.
Quinbrook announces that they have closed financing on Ranchero Wind Farm in Texas, a 300MW project, via a Proxy Revenue Swap with Allianz Global & Specialty, Inc.’s Alternative Risk Transfer unit (‘Allianz’), in partnership with Nephila Climate. REsurety provided the risk analytics supporting the PRS transaction.
REsurety-enabled risk mitigation products have become standard operating procedure for clean energy industry leaders.