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Schneider Electric Acquires Renewable Energy Platform Zeigo
Schneider Electric, which is leading the digital transformation of energy management and automation, announced the acquisition of climate technology platform startup Zeigo to enhance its services in the fields of energy, sustainability and environmental commodity consulting. This acquisition will enhance Schneider Electric's portfolio of clean energy services and solutions and contribute to the company's digital energy transformation goals.
As global expectations and demands for climate risks and a just energy transition grow rapidly, organizations face increasing pressure to decarbonise. One of the most common and effective tools companies have used to start decarbonizing over the past 10 years has been renewable energy purchase agreements (PPAs) signed with electricity companies. To date, organizations have voluntarily purchased more than 77 gigawatts of wind, solar and geothermal energy through PPA.
As net-zero targets become widespread around the world, demand for PPA is also expected to increase. More than 2,000 companies have already joined the Scientific Targets Initiative to align their decarbonisation targets with the global warming threshold of 1.5 degrees Celsius. More than 300 companies have joined RE100's Climate Group, committing to using 100% renewable energy in their operations. In line with these commitments, Bloomberg has estimated that the corporate renewable energy gap will be 269 terawatt-hours by 2030.
The human mind + machine approach improves the energy supply process
Schneider Electric will combine best-in-class consulting services with Zeigo's AI infrastructure to bring together advanced intelligence solutions based on collaboration in the procurement process of energy and environmental commodities. These solutions will complement Schneider Electric's existing consolidation solutions, EcoStruxure™ Resource Advisor and NEO Network™ digital platforms.
Commenting on this acquisition decision, Steve Wilhite, Senior Vice President, Sustainable Business Division, Schneider Electric; 'Renewable energy procurement is a time-consuming and complex process. It requires serious expert assessment of projects and risks. So as the world's largest consultant for renewable energy for companies, we recognize that speed and complexity are two barriers to many organizations entering the PPA market. In this context, by combining Zeigo technology with our existing service and solution portfolio, we will further strengthen and enrich the value we offer to our customers worldwide.'
Juan Pablo Cerda, founder and CEO of Zeigo, said, 'At Zeigo, we are delighted to continue our journey to accelerate the digital clean energy revolution under the umbrella of Schneider Electric. Acting together, we will provide innovative energy solutions to more companies on their journey to decarbonise.'
Schneider Electric continues to lead the renewable energy market
With the addition of the Zeigo machine learning algorithm and experienced team to Schneider Electric, the company will strengthen its market leadership as the world's largest and most experienced enterprise renewable energy consultant.
The company operates with a leading market share in emerging geographies such as the U.S., Europe, Australia, as well as Brazil, and Schneider Electric's global experts have supported the execution of more than 13,000 megawatts of enterprise PPAs since 2014. The Schneider team has also been responsible for developing first-of-its-kind and best-in-class programs for pharmaceutical supply chains, such as the recently announced Energize consortium.
