How can your company benefit?
EAC+ agreements are medium to long-term certificate offtake agreements for companies that want to meet renewable energy targets and assume leadership by demonstrating vision and commitment.
Imagine your renewable energy purchase was like going to a farmers market. You meet a producer in the region that interests you and get to know their produce. You like what you see, so you get into a long-term agreement and have the fruit delivered to you.
Sounds like a PPA you say? It is - but much simpler since EAC+ is based on the simplicity of renewable energy certificates. You don't have the complex contractual obligations of a PPA but you do have a similar level of price security while supporting additional projects at the same time. If we go back to our scenario it would mean that you actually support local farmers to build their business from scratch while getting the benefits of delicious, home-grown food.
EAC+ enables corporate consumers to reach their renewable energy targets with the following added benefits:
How EAC+ works
EAC+ allows consumers to establish offtake agreements with either new/recently built projects or projects that have yet to reach financial closure, thus enabling buyers to make a material contribution to financing newly built renewable power plants.
By establishing offtake agreements with specific renewable plants, EAC+ enables organisations to demonstrate their long-term commitment to local renewable energy transitions in a tangible way, while leaving underlying electricity purchase contracts untouched.
Using South Pole's on-the-ground experts in 20 countries and our global network of partners across 40 countries, we identify new or yet to be built renewable energy projects that meet your company's need on location, price and impact.
Benefits of an EAC+ at a glance
- Helps trigger the development and construction of power plants that have yet to be built.
- Enables the buyer to make additionality claims when sourcing from projects that have not yet been commissioned.
- Long-term EAC offtake links buyers to specific new or yet to be built renewable power plants.
- Hedges against long-term EAC price volatility.
- Meets requirements of all major sustainability reporting initiatives.
- Sits alongside electricity purchase contracts, leaving them untouched.
The underlying product of the EAC+ is an energy attribute certificate issued under the I-REC Standard or the TIGR registry. Therefore, EAC+ projects are accepted instruments for companies to use toward their renewable energy targets for all major sustainability reporting initiatives.
EAC+ contracts link buyers to specific named renewable power plants