LevelTen Energy has revealed that its proprietary LEAP (LevelTen Energy’s Accelerated Process) has significantly streamlined Google’s acquisition of 1.5GW of renewable energy. This technology-driven solution markedly reduces the traditional request for proposal (RFP) and power purchase agreement (PPA) negotiation duration from over a year to approximately 100 days. Developed through a strategic collaboration with Google, LEAP stands out as a quicker, more effective alternative to conventional procurement practices.
LevelTen Energy and Google have completed numerous LEAP transactions across North America and Europe, engaging with large-scale multinational developers and smaller entities, including in challenging markets like the Netherlands. Google is ready to adopt LEAP for large-scale transactions, especially in wholesale markets conducive to traditional PPA structures.
LEAP is designed to facilitate the swift and efficient execution of PPAs, ensuring agreements are equitable and reflective of current market conditions from the outset. This innovative approach has been a huge benefit to developers, as evidenced by Cubico Sustainable Investments and EDP Renewables’ expedited PPA executions in North America and Europe. These successes underline LEAP’s potential to address the long-standing challenge of protracted PPA procurement timelines.
Rob Collier, Senior Vice President of Transactions at LevelTen Energy, emphasizes the importance of accelerating renewable energy contracts to meet energy transition objectives. “In this industry, we know that time kills deals,” Collier remarks, highlighting LEAP’s critical role in expediting the contracting process to scale renewable energy transactions rapidly. Amanda Peterson Corio, Global Head of Data Center Energy at Google, also notes LEAP’s contribution to Google’s goal of powering its data centers with carbon-free energy 24/7 by 2030, praising the initiative as a smarter, more efficient business model for the clean energy industry.
As companies strive to meet ambitious sustainability targets, the demand for speed and scalability in renewable energy procurement intensifies. LEAP emerges as an essential instrument for buyers and developers, enabling the swift scaling of clean energy portfolios and the efficient deployment of capital. “The best time to leverage LEAP to meet these goals is now,” Collier asserts, signaling a decisive moment for the renewable energy sector to embrace this transformative solution.
