Problem

The price of green energy production is rapidly decreasing. Most countries have conditions for some form of green energy production - whether it's wind, solar or hydro energy. Although Commercial & Industrial clients consume 2/3 of the global energy, however, so far, only the largest global corporations were able to access the economic benefits of cheaper green energy. They do that via Power Purchase Agreements (PPAs), which are contracts between companies and green energy producers to purchase electricity for a fixed price for a certain amount of time. This sounds simple, but it's not.

This is because PPAs are extremely complex agreements that support only very large volume deals. Since PPAs are bespoke contracts, they are expensive and lengthy to structure and usually don't support multi-party deals. All these limitations prevent more companies from sourcing green energy directly from developers. Which, in turn, slows down renewable energy development.

Solution

WePower - Platform to facilitate energy transactions of any size for all energy market participants. We provide the easiest way to discover, choose and sign source-transparent energy contracts with never-seen-before flexibility.

We are connecting energy market participants (energy retailers, green energy generators, and corporate energy buyers) to enable direct energy transactions. Providing them with cost-efficient solutions for buying, selling and managing their energy portfolios.

Our product lineup consists of three propositions:

• Elemental Virtual private marketplace (Platform as a service) - Full lead to deal platform as a service, for a Utility/Retailer type client.
• Energy control center/ RFP Center - Corporate energy buyers facing energy contract management and energy procurement portal for running RFP's.
• PPA Wholesale Marketplace - PPA marketplace to serve corporate and energy retailer clients.

Together, these solutions enable:

• Retailers - Energy retailers can offer superior, bundled energy products customised for each client without additional overhead.
• Producers - Producers, developing and operating generation assets, can extract maximum market value from their energy assets concluding energy contracts faster and with a broader buyer base.
• Corporate buyers - Corporate energy buyers can find the best value tailor-made energy products for them via a simple and easy process.

Differentiator

WePower platform offers many new capabilities to design, buy and sell direct energy contracts while making it easier, more flexible and less costly to manage for all parties involved.

WePower streamlines the traditional energy procurement processes. We enable market participants to overcome complexities of existing energy procurement processes preventing them from unlocking the full value of sustainable energy.

• Large volumes → Small volumes. Larger pool of buyers with relatively small loads can now participate in energy procurement due to shared standardized infrastructure and processes.
• High transaction costs → Low transaction costs. Standardised contracts & project curation significantly reduces transactions costs to all parties involved: corporate buyers, generators, retailers.
• Bespoke complex transactions → Tailor-made experience and simplified transactions. We enable buyers to implement their procurement strategies with a simple shopping basket experience to procure retail PPAs at best price points.
• Limited choice of projects → Energy portfolios and progressive procurement. Buyers can build an energy portfolio from multiple projects using progressive purchasing.

Biggest Achievements

We've already implemented the first fully digitised renewable energy transaction in Australia and currently have 20 energy procurement projects in the pipeline. We are also working with energy retailers in Australia do develop their custom virtual energy marketplaces. Our platform Elemental platform is already deployed with 2 retailers in Australia.

We have an ever-growing pool of green energy available for direct procurement In Australia across QLD, NSW, VIC, SA with over 1GW of capacity for sale over the next 2-3 years. As well as a pool of corporate and industrial customers with over 1 TWh of annual demand. We have two WePower Platform as a service Deployments in Australia providing an end to end utility scale platform with a combined portfolio of 13TWh

We've done 6 pilots with: CLP, Tepco, SP Group, Elering, Salzburg AG.