Energy management technology and services company, Energy Action Limited (ASX: EAX) (“Energy Action”), is pleased to announce that it has entered into an agreement with SunEdison Australia (“SunEdison”) under which both parties will collaborate to promote innovative energy management and renewable energy solutions to their customers in Australia.
- - Both companies to collaborate on a preferred partner basis to offer energy management and renewable energy solutions to their customers
- - Partnership leverages SunEdison’s global scale with Energy Action’s supply side expertise
- - Partnership targeted to capitalise on the growing demand for solar power purchase agreements (SPPA)
- - Solar and battery storage now a competitive alternative to grid for commercial sector
SunEdison (NYSE: SUNE), the largest global renewable energy development company, and Energy Action, Australia’s leading energy management firm, will now work closely together to reduce the impact of rising electricity prices for businesses.
Energy Action is Australia’s leading provider of both demand and supply side energy management services and is also the operator of the unique Australian Energy Exchange reverse auction platform. Energy Action procures and manages electricity and gas contracts via competitive tender from retailers for its commercial energy clients, currently holding a market share of approximately 15% of the Commercial & Industrial (C&I) sector in Australia.
As the leading global vertically integrated solar product and service provider to the residential, commercial & industrial markets globally, SunEdison is perfectly positioned to collaborate with Energy Action on a preferred partner basis to provide solar equipment and financing solutions to Energy Action’s growing commercial client base.
The agreement allows for the provision of solar technology and solar power purchase agreements (SPPA) within the Australian C&I sector. In conjunction with being able to leverage the scale and supply chain advantages SunEdison offers for solar equipment, this partnership further enhances Energy Action’s ability to assist its clients mitigate the risks of rising electricity prices by providing alternate financial options that remove the barriers to entry represented by the initial capital investment in solar projects.
2015 marked a turning point for the Australian commercial solar market and SunEdison anticipates that growth in the small to medium commercial segment will continue throughout 2016. This new partnership will provide competitive, quality solar installations incorporating the latest technology to deliver reliable electricity cost savings over its operating life to Energy Action’s existing and new clients.
Commenting on the partnership, Wilf Johnston, Managing Director at SunEdison Australia, stated: “We are very excited by this partnership. With SunEdison’s global strength, its exceptional track record in Australia for over 10 years and its recent supply of some of the largest C&I rooftop systems in Australia, we believe our partnership with Energy Action will bring best-in-class solar and other energy-saving solutions to our broad range of customers.”
Energy Action Chief Executive Officer, Mr Scott Wooldridge added: “This partnership between Energy Action and SunEdison is aimed at helping our clients make the best possible investment decisions when it comes to selecting their energy supply. We know that solar and batteries are now cost-competitive for specific client applications and through this partnership we can deliver long term energy price certainty combined with attractive financing options.”
“SunEdison’s global strength in supporting clients to receive the benefits of on-site energy production and storage, coupled with our local expertise in developing high quality solar installations for SMEs through to large C&I businesses, offers our clients an independent and attractive alternative when they make their next energy buying decision.”
Rebecca Tucker, Marketing & Communications Manager: +61 409 151 022
Adam Jarvis, Six Degrees Investor Relations: +61 2 9230 0661, +61 424297736
SunEdison is a leading vertically integrated global renewable energy company and is transforming the way energy is generated, distributed, and owned around the world. The company develops, finances, installs, owns and operates renewable power plants, delivering predictably priced electricity to its residential, commercial, government and utility customers. SunEdison is one of the world's largest renewable energy asset managers and provides customers with asset management, operations and maintenance, monitoring and reporting services. Corporate headquarters are in the United States with additional offices and technology manufacturing around the world. SunEdison's common stock is listed on the New York Stock Exchange under the symbol "SUNE." To learn more visit www.sunedison.com
About Energy Action
Founded in 2001 and now a publicly listed company (ASX: EAX), Energy Action is the leading energy management technology and services firm in Australia. Energy Action provides services which reduce the impact of rising electricity prices for businesses and is committed to bringing innovation to energy management, while delivering positive environmental and financial outcomes for our clients. For further information about Energy Action visit www.energyaction.com.au