Deloitte partners with LevelTen Energy to help clients source green energy
Deloitte has partnered with LevelTen Energy, a Seattle-based provider of renewable transaction infrastructure, to help its clients source renewable energy.
With this month’s UN IPCC climate change report trumpeting a desperate need to cut down on carbon emissions, companies will be looking for ways to green their value chains outside of whatever further regulations governments are likely to enact. According to a recent survey from Deloitte Global, one in four organizations said climate events are already affecting their operations, and 63% agree we can still limit the worst impacts of climate change with immediate action.
One way for organizations to cut their carbon emissions and reach sustainability targets is to source renewable energy. In order to help its clients transition to low-carbon operations, Deloitte has announced a partnership with LevelTen Energy – the largest online hub for utility-scale renewable energy deals.
LevelTen is a leading platform for sourcing renewable energy power purchasing agreements – hosting more than 4,000 offerings across 21 countries in North America and Europe. The platform connects a range of energy advisers and buyers with more than 500 project developers, owners, and financiers. Its partner network numbers more than 25 energy advisors, including Deloitte, Accenture, Guidehouse, and BCG.
Since its founding in 2016, LevelTen has facilitated more than $5 billion in renewable energy transactions and 3.3 gigawatts of renewable energy deals. The firm also recently raised $35 million in its Series C funding round, which was led by NGP ETP and included Google and a raft of venture capital firms. LevelTen has raised $62.3 million in financing thus far.
Commenting on the partnership, Marlene Motyka, Deloitte US and global energy leader, and Jennifer Steinmann, Deloitte global ESG marketplace leader, said, “This is not only the right business decision for us, but it’s also the right thing to do for society as employees and consumers expect more from those they work with and purchase from.”
The renewables sector has doubled its total capacity in the US in the last five years, reaching 180,216 MW – which is enough to power 50 million homes. There are more than 900 projects under construction or in advanced development, according to the American Clean Power Association.
The sector is expected to kick into a higher gear as President Biden targets the elimination of greenhouse gas emissions from power plants by 2035. The president has also rejoined the Paris climate accord and pledged to cut US greenhouse emissions by 50%.
