Altenex, an Edison Energy company, announced the launch of PowerBloks, a renewable energy power purchase agreement (PPA) structure for commercial, industrial and institutional electricity users.

PowerBloks is specifically designed for large and mid-size energy users by providing smaller and shorter duration renewable capacity offtake.

PowerBloks features smaller blocks of power that are matched more closely to localized demand, and include flexibility to contract for power on the customer's timeline -- as opposed to being dependent on the renewable project's construction and commercial operation schedule.

"Whereas a traditional corporate PPA might require a purchasing commitment of 100 megawatts (MW) and a 15-20 year contract term, PowerBloks are available in 5-10 MW increments and 10-year terms," Altenex said

Altenex said the product is designed to be attractive to a wider range of commercial and industrial companies and institutions such as universities, local governments and healthcare systems, many of which have smaller energy loads than would readily align with a traditional PPA