London-headquartered renewable asset manager Quinbrook has launched a platform to enable offtake customers to trace the source of their electricity in real-time.
Quinbrook dubbed the platform ‘Quintrace’, and described it as a “centralised dashboard tool” that shows the source of every kilowatt-hour consumed at a facility, enabling operators to assess how much of their energy mix is derived from renewables. The platform also measures the carbon intensity of power purchase agreements, allowing customers to effectively measure the overall carbon footprint of a facility.
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The platform can be used to measure the energy mix of a number of connected facilities, and could be of particular benefit to the managers of large-scale solar portfolios, who are eager to accurately report on the contribution of renewable energy to their company’s energy mix.
“As many corporations focused on sustainability now realise, there is a typical mismatch between the times when the renewables projects they buy power from are generating compared to when their facilities are consuming power,” explained David Scaysbrook, co-founder and managing partner of Quinbrook. “Moreover, it’s now critical to know the carbon intensity of the grid power being used to charge batteries before that stored energy is supplied to a customer.
“Companies must be able to prove and audit their carbon footprint reductions along with the need to meet increasingly stringent carbon reporting that presents huge and costly challenges.”
On the same day, Singaporean firm Redex announced that it had raised US$10 million in funding, led by Aramco Ventures, to expand its work beyond Asia. The company is involved in the issuance and trading of renewable energy certificates (RECs), and important piece of evidence for companies eager to demonstrate that their operations are powered by renewable sources.
More effective global trading of RECs, and the presence of tracing platforms such as Quinbrook’s, could help companies in a number of sectors more accurately report on their energy mixes, and the role of solar power in meeting corporate power demand.
The news follows Quinbrook’s plans to develop a polysilicon manufacturing facility in Queensland, as the Australian state looks to bring 22GW of new solar and wind capacity online by 2035.