Bullfrog Power, a Spark Power company, is a Canadian green energy retailer operating in Canada.
Ontario — Bullfrog Power announced the success of its power purchase agreement (PPA) solutions, an advisory service it says helps organizations procure reasonably priced, renewable electricity while supporting the event of recent wind and solar projects in Canada.
The corporate says Shopify and MEGlobal Canada ULC were its first PPA solutions customers, each of whom signed successful PPAs earlier this 12 months.
“Power purchase agreements are a unbelievable way for organizations to obtain green electricity, insulate themselves against rising energy costs, and actively contribute to Canada’s green energy transition,” said Suha Jethalal, President of Bullfrog Power. “These deals are complex, but Bullfrog Power’s PPA solutions team has the expertise and experience to guide your organization from the initial steps to an advantageous power purchase agreement.”
An influence purchase agreement is a long-term financial agreement between an energy buyer and an energy seller.
The client guarantees the vendor a hard and fast price for energy from a renewable project that hasn’t been built yet. This fixed price guarantee helps the energy seller secure financing for his or her latest wind or solar project, accelerating renewable growth.
Bullfrog Power says it helps organizations navigate the PPA process, from identifying a project to reaching a signed PPA.
It advises its clients on selecting a renewable project that matches their needs, mitigating financial risk, and assembling buyers’ groups.
Before 2019, only 44 MW had been contracted through PPAs in Canada. In 2021, organizations used PPAs to contract 1,262 MW of renewable electricity.