Energy technology company Zeigo has added 4GW of renewable capacity to its platform.
The capacity was added to the AI-powered Power Purchase Agreement (PPA) marketplace. This now hosts more than 300 projects, with a total of 18GW capacity owned by more than 60 renewable energy developers.
Zeigo says the platform allows energy buyers a more transparent and efficient route to market for renewable energy projects across the UK and Europe. The company recently raised £800,000 in its seed funding round to help it scale up and further develop the platform.
Companies including BKW, RES and RWE are now utilising the platform, with the former's business development manager Germain Augsburger saying it was “disrupting the way companies and utilities can foster and procure renewable power from existing and new-build power plants".
Zeigo's founder and CEO Juan Pablo Cerda said that at the moment, the need and desire to move to a low carbon society is “stronger than ever".
"We expect that as governments seek to rebuild their economies post COVID-19, that they will focus on rebuilding them in a more sustainable way and this is good news for all of us.
“We recently completed a market testing exercise for one of the largest energy users in the UK. We received 28 submissions from renewable projects that offered the best prices we have seen to date. This illustrates that now is a good time for large corporates to be shopping for a PPA, as there is scope to influence negotiations with depressed forward prices for wholesale electricity."