Engie, a global leader in low-carbon energy and services, was looking to hedge certain of its active positions in the U.S. in late 2024. Toward this end, Jared Johnson, an Engie wholesale originator, set out to contract solar in ERCOT. He sought a quality counterparty who could execute quickly at a competitive price.

Jared turned to RenewaFi to source potential counterparties anonymously. While browsing the Marketplace, he noticed a competitive offer for fixed shape solar from an investment grade company. Intrigued, he countered the offer at a slightly lower price.

Noam Yaffe, RenewaFi’s Founder and CEO, saw Jared’s counter and worked behind the scenes to bring the two parties together. Since RenewaFi calculates the value of thousands of PPAs every day, Noam could guide the sides to a mutually beneficial deal based on market data. “RenewaFi knows where the market is, which makes them a really effective mediator,” Jared said. “They are uniquely positioned to get both the seller and buyer to show their best price.  Perhaps more importantly, they can pre-screen both the buyer and seller to dramatically reduce execution risk.”

After a few rounds of back and forth, Jared and the seller agreed to a term sheet. Noam then introduced them to one another so they could iron out the details of the agreement. The transaction closed within weeks.

For Jared, working with RenewaFi helped limit uncertainty. “It’s not easy to find a quality counterparty who is serious about executing quickly,” said Jared. “With RenewaFi, we could be confident that we were all working toward a good deal. In the end, we gained access to the liquidity we needed to manage our risk.”