Author: Misti Groves works directly with project developers & purchasers to execute strategic customized contracting solutions
In this Q&A, Misti Groves, Senior Director of Business Development, addresses 4 primary stakeholder engagement considerations that commercial, industrial, and institutional (C&I) energy buyers face regarding power purchase agreements (PPAs).
1. Who and what departments are involved?
Executing a successful PPA deal requires touchpoints across a swath of professionals within an organization. Sustainability, Energy, and Procurement (if separate) have critical roles. Accounting, Treasury, Tax, Legal, and Finance are also largely involved. Decision makers in these departments may or may not be in similar business units, have comparable reporting structures, or even know one another. A renewable energy buyer’s advisor not only supports collaborative efforts amongst these key players but also speaks a common language and is able to technically address cross-functional considerations.
2. Why is it important to engage internal stakeholders on PPA deals?
Given the complex nature of PPA deals, it is essential to involve key internal stakeholders early and often in the engagement process. Research suggests that engaging these individuals, indicated in question 1, early and often yields a greater understanding of differing opinions and assumptions, better information and collaboration, as well as increased overall acceptance of a decision making process. In practice, we have realized these benefits and consider stakeholder engagement a key component of our approach.
3. Is there a champion that tends to lead these efforts internally? Who is it?
Yes, an organization will typically have an internal champion that acts as a liaison between a buyer’s advisor and the internal decision-making group. This champion usually works in a company’s sustainability department; however, we also see energy or procurement managers fulfill this role. We emphasize a long-term partnership with internal champions, as their efforts are critical to a successful deal.
4. How can Renewable Choice help?
Our team of global experts has deep experience bringing internal stakeholders together, providing education throughout, and holistically supporting a company to reach consensus on executing a PPA. We engage internal champions and stakeholders in the process – early and often – across every involved level of an organization to ensure a deal’s success.
Reach out to our strategic renewables team to learn how a comprehensive energy and stakeholder engagement strategy can drive value for your organization.