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BRC Newsletter, Q1 2017  
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UPDATE: STATE OF THE MARKET

In the first quarter of 2017, the corporate PPA market grew by nearly 550 MW, including a 200 MW solar transaction by Apple in the U.S., and a 220 MW wind transaction by Anheuser-Busch InBev in Mexico. Coming out of Q4 2016, BRC can confirm that last year was the second-best year ever for corporate PPAs, with 17 deals signed encompassing 1.56 GW worth of contracts from 13 unique buyers. We will be watching this year’s deal flow closely to see how it tracks with historical trends.

The outlook for 2017 is strong. Major companies remain publicly committed to renewables and climate action per a recent article in the New York Times. Several of our members on the development and/or service provider side are reporting a strong pipeline of activity. We still see strong interest in our Buyers' Bootcamps: 14 companies participated to Bootcamp II this past February and we expect a similar level of attendance in Bootcamp III in June

To collaborate with the BRC on announcing and promoting your company’s 2017 utility-scale PPA, please contact Hervé Touati (htouati@rmi.org), Lily Donge (ldonge@rmi.org) or Kevin Haley (khaley@rmi.org) for a fully confidential conversation.

NEW REPORT: SPP INSIGHT BRIEF

In March, the BRC and RMI released a new report titled, “Transmission Investments Affect the Value Of Your Wind PPA,” detailing the rise of wind deals in the Southwest Power Pool, how that market compares with ERCOT, and what wind buyers should consider when comparing siting options across markets. Greentech Media also reposted our blog piece on the report.

The report underscores that corporations considering PPAs in the Southwest Power Pool (SPP) will be impacted by changes in congestion and curtailment patterns. Careful analysis of the risks will be critical, as historical analysis alone may not capture the effects of emerging trends.

> Download the Report

RECAP: BUYERS' BOOTCAMP

In February, the BRC held its second Buyers’ Bootcamp near Aspen, CO. The bootcamp was attended by 16 corporate officers from 14 individual corporations, as well as seven faculty made up of experienced buyers like Google, and expert deal advisors and service providers.

Topics covered range from accounting treatment of virtual PPAs to risk types, including basis, market price, curtailment, and credit risks. Attending companies came away with foundational knowledge of how to complete a renewable PPA transaction, and a collection of resources to refer to, from primers and guides to a deep network of experienced buyers.

Upcoming Bootcamps:
We are planning our first Developers' Bootcamp for later this year - details will be shared in the coming weeks.

BRC’s next Buyers' Bootcamp will be held near Aspen, CO in June, 2017. For information on attending, please contact Mark Porter (mporter@rmi.org) and Pamela Day (pday@rmi.org) for details on the next Bootcamp.

BRC PRODUCT UPDATES

Coming soon: A New Economic Analysis Tool
At the BRC Workshop in November 2016, deal economics were voted the most important challenge for the non-utility renewable energy market. The BRC is developing a new software tool that integrates with the BRC Marketplace to help our members understand in which geographies solar and wind projects may be relatively attractive.

The BRC has completed a prototype version of the tool and has been gathering feedback over the past month. We intend to release version 1.0 of the tool in May.

If you have questions or would like to provide feedback on the tool, please contact Steve Abbott: sabbott@rmi.org

CLEAN LINE TRANSMISSION PROJECT

BRC is working with buyers to explore how to fulfill demand in the Southeast with renewable energy delivered via the Plains & Eastern Clean Line (P&E) project.

Corporate renewable procurement in the South East has not developed as quickly as we wish it had - despite strong industrial presence in the region. With the P&E project, we have a unique opportunity to help change that - provided we work together on key market barriers.

If you are interested in a cost competitive renewable energy solution in the Southeast, and are willing to join forces with other BRC members to make it happen, please contact Lily Donge (ldonge@rmi.org) and Mark Dyson (mdyson@rmi.org)

EVENTS


Past:

An Overview of China’s Renewable Energy Policy Landscape is a recorded members-only webinar that was oversubscribed. BRC, RE100 and The Climate Group teamed up in March to host this important regional overview.

To access a recording, BRC or RE100 members should email Kevin Haley to request a link: khaley@rmi.org

Upcoming:

  • April 24-26, 2017: Platts Global Power Markets Conference in Las Vegas, NV – register today
  • April 27-28, 2017: BRC Webinar Series on Aggregation Products
    • Part 1: Aggregation strategies & products from service providers (April 27, 2:00 pm ET)
    • Part 2: Aggregation products & services from project developers and utilities (April 28, 2:00 pm ET)
    • Email Roberto Zanchi (rzanchi@rmi.org) to register.
  • May 18, 2017 @ 2:30 pm ET: BRC and Second Nature webinar on University Buyerssign up now to save a seat
  • September 17-19, 2017: REBA Summit at VERGE '17 in Santa Clara, CA.
    • Read the announcement
    • Join BRC and its REBA partners at the 2017 REBA Summit, held in partnership with GreenBiz's VERGE conference in September!
  • For a full list of 2017 events that BRC and our members will be attending, click here

MARKET UPDATES:


BRC Marketplace Stats:

Today, the BRC Marketplace features:
  • Project Requests: 150+ MW of buyer needs, across 3 countries, have been communicated to the market
  • Buyer Usage: 44% of BRC buyers have researched specific project opportunities using the database
  • Available Project Database: Developers have uploaded ~23 GW of capacity across over 150 projects
  • User Base: 400+ users across 166 organizations
Recent Deals –
Congratulations to our BRC members in bold

WELCOMING NEW BRC MEMBERS!

Welcome to our new BRC members who have joined since the December 2016 newsletter! We’ve grown from 28 founding members and sponsors in November 2014 to 196 members today.

New buyer members include: AMD, Amy's Kitchen, AkzoNobel, City of Philadelphia, McCormick & Company Inc., Merck & Co., Inc., MGM Mirage, New Belgium Brewing Company, Siemens AG, Solvay Chemicals, Target, Raytheon Company, University of Washington, UW Health, W.W. Grainger, Inc. and a confidential consumer products company.

New sponsors include, among others: 7X Energy, Acciona Energy, APX, ET Solar, Sunpin Solar, GAF. Texas Energy Aggregation and Tuusso Energy/Longview Solar.

Past Newsletters: View past newsletter issues online here

Disclaimer: the BRC newsletter is intended to provide factual information. It is based on publicly available information. No representation is made with respect to its accuracy or completeness. None of the information can be construed as investment or accounting advice. RMI reserves the right to include, change, or edit any content.
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