Solar Developer Launches Solar Block/Index Power Purchasing Strategy, Aimed At Retail Choice States
7X Energy, Inc., a developer of utility-scale solar, announced the availability of "SolarBlocks," which it described as the first block-and-index power purchasing product in which the blocks of energy are generated by a greenfield solar plant developed by 7X Energy.
"Traditionally, blocks are supplied by a variety of generation sources on an energy buyer’s local grid," the company said
SolarBlocks is designed for commercial and industrial (C&I) energy buyers in Independent System Operator (ISO) markets with retail choice that want to procure some of their energy from renewable sources, but seek more flexibility than a traditional 20-year, fixed-price power purchase agreement (PPA) allows.
Under 7X Energy's program, blocks of usage are provided by the solar units, and, "[a]ny additional or off-peak usage is procured from a customer’s retail energy provider through the wholesale market either at indexed real-time prices or through additional short-term block purchases."
"SolarBlocks provides a familiar energy procurement experience that allows companies to continue working with their current energy retailer while enjoying the benefits of buying solar energy," the company said