Renewable

January 19 (Renewables Now) - French electrical equipment maker Schneider Electric SE (EPA:SU) has taken over UK-based renewable energy procurement start-up Zeigo, in a push to expand its own portfolio of digital energy and resource management capabilities.

The financial terms of the transaction remained undisclosed.

Founded in 2018, Zeigo connects over 100 renewable energy developers and suppliers and has set up a simplified power purchase agreement (PPA) tender process for companies and utilities. The business employs 20 staff, using machine learning algorithms to make market projections and enabling companies with over 5 GWh of power consumption sign PPAs for solar or wind-generated electricity. It currently has some 400 projects in its portfolio.

Zeigo has a leading market share in the US, Europe, Australia and emerging geographies like Brazil, according to the statement issued on Thursday.

In November 2021, Schneider teamed up with UK management consultancy Carnstone to launch a supplier programme called Energize, which will help speed up the adoption of renewable energy and reduce greenhouse gas emissions within the pharmaceutical value chain. The programme unites ten global pharma companies, including Pfizer, AstraZeneca, Novartis, Sanofi, Novo Nordisk and GSK.

Join Renewables Now's free daily newsletter now!