Odyssey Energy Solutions and Powertrust partner to catalyze innovative financing into high impact renewable energy projects around the world
Powertrust is co-leading the D-REC Initiative, which is a multi-stakeholder, industry-led initiative to create a global market for distributed renewable energy through an internationally standardized market instrument called the D-REC, or Distributed Renewable Energy Certificate. Denoted in kWhs, D-RECs enable even the smallest solar devices to participate in global environmental markets. This innovative renewable energy certificate will support multiple Sustainable Development Goals (SDGs) by driving both social and climate impact, while bridging the current financing gap in the sector to directly address SDG7 – providing access to affordable, reliable, and sustainable energy for all by 2030.
Powertrust connects renewable energy developers with the world’s biggest brands committed to achieving their net zero targets. Powertrust focuses on supporting projects located in regions with high carbon emission intensities, where additional clean energy can create 6-7x the climate impact of similar projects in more established markets, and where the energy provided creates strong social impacts by powering hospitals, communities, schools, farms, and factories where it’s needed most. Moreover, Powertrust’s technology platform provides a scalable, automated way to certify and deliver digitized D-RECs, providing buyers with clear provenance into their renewable energy certificate purchases.
Odyssey and Powertrust are collaborating to expand and unlock new access to the D-REC market by digitizing and collecting data at every stage of the project lifecycle. To originate projects, Powertrust is leveraging Odyssey’s network of over 1,700 project developers across 50 countries to announce upcoming D-REC financing opportunities in specific geographies. At the same time, interested developers can submit information on their current projects and pipeline to be considered for future opportunities.
Developers will take advantage of Odyssey’s techo-economic modeling tools to standardize and submit critical project data, such as expected load and offtaker profiles. In turn, this robust and granular project analysis will provide Powertrust insight into their project pipeline. Importantly, as soon as projects are operating, Odyssey will automatically ingest site generation data and pass that to Powertrust’s platform for certification to facilitate the issuance of D-REC certificates. Generation data will be aggregated with other key project metrics, allowing Powertrust to ensure all D-REC transactions comply with GHG accounting rules and meet the social and climate impact goals set by Powertrust’s corporate customers.
Both Odyssey and Powertrust are looking forward to this collaboration to provide renewable energy developers with streamlined access to global environmental markets. Through digitization and data analysis, this partnership will unlock more capital for the distributed renewable energy sector, and in turn expand global access to clean energy.