Edison Energy and RENEW Energy Partners launch $300M flexible funding program to deliver sustainability and decarbonization projects – EQ Mag Pro

The new Accelerate Program℠ will focus on behind-the-meter carbon reduction projects in commercial, industrial, and institutional markets

Irvine, CA – February 10, 2022 – Edison Energy (“Edison”), an energy advisory firm working to empower companies to overcome the challenges of reducing carbon and cost, and RENEW Energy Partners (“RENEW”), a firm dedicated to speeding carbon reduction by making it financially compelling, are excited to announce the launch of Accelerate℠, an innovative flexible funding program, financed by RENEW Energy Partners.

Edison and RENEW Energy Partners will apply their shared expertise to make progress towards decarbonizing the commercial, industrial, and institutional markets. Targeting organizations with concrete decarbonization goals, the new platform brings together Edison’s industry-leading experience in the design and implementation of decarbonization strategies with RENEW’s capital to execute these strategies without upfront capital from the customer.

“Decarbonization and the clean energy transition are the great disruptors – firms are either going to embrace these challenges or be left behind,” said Charlie Lord, Principal and co-founder at RENEW Energy Partners. “Edison Energy shares this vision. Having worked together to deliver carbon reduction to customers like Northrop Grumman, we are excited to take this partnership and our carbon emissions reduction approach to the market and achieve our mission of speeding the clean energy transition.”

The new program will focus on simplifying projects that create carbon savings by delivering them as a service and reducing risk to customers who will pay only for measured and verified savings. Edison’s Energy Optimization Services team will develop and implement the carbon reduction strategy through traditional demand-side and supply-side initiatives that aim to ensure optimum facility performance. The fund will also offer solutions for other clean energy projects such as electric vehicle fleet infrastructure, microgrids, and onsite renewable energy generation.

“The clean energy transition is here, and companies and organizations are starting to step up in a big way to decarbonize,” said Oded J. Rhone, CEO of Edison Energy. “The Accelerate Program℠ will make it easier for companies to meet their sustainability goals by simplifying projects and reducing risk, carbon, and costs. We are excited to partner with RENEW Energy Partners on this innovative and scalable offering.”

RENEW and Edison expect the program to drive long-term carbon savings and create clean energy jobs – both metrics that will be tracked by RENEW.

About Edison Energy

A wholly owned subsidiary of Edison International (NYSE: EIX), Edison Energy provides independent expert advice and solutions to help large corporate, industrial, and institutional clients better understand and navigate the choices and risks of managing energy. Edison enables decision-makers in organizations to deliver on their strategic, financial, and sustainability goals by addressing the three biggest challenges in energy today: cost, carbon, and complex choices. Designing and implementing strategic and specialized solutions across analytics, sustainability, renewables, supply, and demand, Edison aligns their client’s energy investments with their strategic goals. Edison Energy does business in Europe as Altenex Energy.

About RENEW Energy Partners

RENEW Energy Partners provides turnkey solutions for funding, installing, and managing energy efficiency and on-site clean power generation projects. The company helps building owners reduce their carbon footprint and save money while making their buildings cleaner, nicer, and more resilient. With its energy-as-a-service model, energy upgrades and retrofits are funded by future savings and are at no cost to the building owner. Notable customers that represent RENEW’s range and flexibility of solutions include YMCAs, Northrop Grumman, and properties such as the historic Waldorf Astoria in New York City.