Against the background of a global trend to phase out subsidies for renewable energy projects and a shift to an open market, selling energy from solar parks and wind farms is becoming more complex, technical and volatile.
To address this, Swiss fintech startup Pexapark has designed a platform to make the sale of renewable energy easier and faster, helping investors manage the revenue and risks of their energy sales.
The company is offering, as it says, an all-in-one solution for selling energy, including investment strategy, risk analysis, structuring PPAs, and risk management. Its product is a SaaS solution that helps clients structure their power sales, complete PPA transactions and monitor their energy risks.
“Our trading platform, Pexa Connect, will empower clients to transact PPAs and manage their energy sales. We will be tackling one of the key challenges that renewables face in open markets: securing long-term cash flows in complex and volatile energy markets,“ says Luca Pedretti, COO & Co-Founder.
Although a young company, Pexapark says it has advised on over 2.2 GW in PPA transactions in Europe with numerous clients, including Credit Suisse and energy specialist Encavis.
Pexapark launched in 2017 with €1.5 million in seed capital. It has now completed its Series A round for an additional €3.5 million, which the company plans to invest into the further development of the platform and the growth of the team.
“Our objective is to build a future that is 100% renewable. An ambitious goal which we want to achieve by helping companies trade their renewable energy easier, faster and at a lower cost,” said Michael Waldner, CEO & Co-Founder.
“Our Series (A) is a very exciting achievement for our team and an important step on our journey to building the industry’s leading renewable energy trading platform.”
The PPA advisor is targeting its Series B for 2020 striving towards the goal to become the industry standard for renewable energy trading.