- Machine learning technology will further enhance Schneider’s market-leading advisory services
- The acquisition expands company’s portfolio of digital renewable energy and resource management solutions
We are delighted to announce that Zeigo has been acquired by Schneider Electric, the leader in the digital transformation of energy management, automation, and sustainability. As part of the acquisition, the Zeigo platform will complement existing Schneider Electric digital energy solutions and advance Schneider’s digital energy transformation ambitions.
Zeigo has gone from strength to strength since launching 3 years ago. Today’s announcement is a significant milestone for us and great news for clients and supporters on our journey. “Zeigo is delighted to join forces with Schneider Electric to continue to accelerate the digital clean energy revolution,” said Zeigo founder and CEO Juan Pablo Cerda. “Together, we will bring renewable energy opportunities to even more companies, to drive impact as they embark on their decarbonization journey.”
Renewable energy procurement surges as net-zero ambitions reach tipping point
Organizations face increasing pressure to decarbonize as climate risks and global ambitions for an equitable energy transition both accelerate. For the past 10 years, one of the most common and effective means for companies to begin to decarbonize has been utility-scale renewable energy power purchase agreements (PPAs). To date, organizations have voluntarily purchased more than 77 gigawatts of wind, solar, and geothermal power via PPA.
The demand for PPAs is expected to grow as net-zero ambitions accelerate globally. More than 2,000 companies have already joined the Science-based Targets Initiative with the intention of mapping their decarbonization aspirations to a 1.5 degree Celsius global warming threshold. A further 300+ corporations have joined the Climate Group’s RE100, committing to achieve 100% renewable energy in their operations. Taken in total, these commitments have led Bloomberg New Energy Finance to predict a shortfall in corporate renewable energy of 269 terawatt-hours by 2030.
Mind + machine approach advances the energy procurement process
Renewable energy procurement is time-consuming and complicated, requiring significant expert evaluation of projects and risks alongside the satisfaction of stakeholders up to and including corporate boards. By combining Zeigo’s AI capabilities with its existing best-in-class advisory services, Schneider Electric will deploy enhanced collaborative intelligence in the energy and environmental commodity procurement process, an ideal complement to existing Schneider Electric solutions for aggregation and digital platforms EcoStruxure™ Resource Advisor and NEO Network™
“As the world’s largest advisor to corporations on renewable energy procurement, we know that speed and complexity are two of the barriers that keep some corporations out of the PPA market,” said Steve Wilhite, SVP for Schneider Electric’s Sustainable Business Division. “By adding the Zeigo technology and team to our existing portfolio of services and solutions, we will be able to provide even greater value to our clients worldwide. My congratulations to Zeigo on this significant milestone.”
Achieving Zeigo’s Mission as part of Schneider Electric
Zeigo’s driving force has always been to accelerate the renewable energy transition. We help businesses get clean energy directly from wind and solar farms. That won’t change, it will just expand.
We’ll be working with the team at Schneider Electric to bring the best digital clean energy solutions to our clients worldwide. We are now on the path to expanding our mission of accelerating the transition to renewables and making a true difference in the world on a global scale.
Learn more about Schneider Electric’s renewable energy advisory portfolio here.
Read the original press release here.