Green Energy Exchange Closes Financing with Shell Energy
Agreement will increase access to green power for homeowners and businesses in Texas
AUSTIN, Texas - May 21, 2020 - PRLog -- Green Energy Exchange secures major credit funding from Shell Energy
Arrangement allows for more green energy solutions in ERCOT marketplace
Green Energy Exchange, a business providing renewable solutions direct to consumers, announced today that it has completed a credit facility financing arrangement with Shell Energy North America (US), L.P. (SENA). With SENA's support, Green Energy Exchange will be able to provide renewable solutions to homes and businesses of all sizes. Green Energy Exchange is a Y Combinator backed clean tech startup venture operating in Texas. As one of the first renewables only utilities, the company provides renewable energy and sustainability solutions to homes and businesses. Company growth has been resilient throughout the COVID19 pandemic and Green Energy Exchange is one of the fastest growing companies in the sector.
"Customers increasingly want clean power options. Shell Energy's backing will allow Green Energy Exchange to expand its offerings and provide more choices for customers seeking affordable renewable solutions. This arrangement supports our ambitious growth plans and compliments our mission of providing innovative affordable green solutions to our customers. Our plan is to make affordable green energy available to all interested buyers," Green Energy Exchange Founder Patrick Woodson said.
The company is committed to directly sourcing renewable energy from local wind and solar generators and helping take that power to market. "Direct sourcing provides new market opportunities for generators and tailored solutions for customers," continued Woodson, "We are leading the charge to bring more green power to market."
"Shell Energy recognizes that consumers and society are demanding more sustainable solutions and we have the expertise and vision to lead in that space," said Chris Riley, Vice President of Retail Origination at Shell Energy North America. "Working with Green Energy Exchange, we're excited to be able to increase our support of the development of green energy products and services."
Formed by Patrick Woodson, a 25-year veteran of the renewable energy space and former CEO of E. ON Climate & Renewables U.S. operations, Green Energy Exchange became a licensed retailer serving customers in the ERCOT electric market in June 2019.
Patrick Woodson, Green Energy Exchange
About Green Energy Exchange
Green Energy Exchange delivers affordable renewable solutions direct to homes and businesses. Backed by Y Combinator and other investors, the business operates in the Texas electric market. The company is modernizing the utility experience and using technology to deliver the future of power.
About Shell Energy North America
Shell Energy North America (US), L.P. (SENA) is among the largest wholesale energy marketers and traders in North America and provides a comprehensive portfolio of energy-related products and services. Consistently ranked within the top three gas and power marketers in its region, SENA's capabilities include marketing natural gas within the USA and Canada, with a sales volume of approximately 10 billion cubic feet per day and marketing wholesale and retail power, with sales topping 270 million megawatt hours annually. A participant in nearly all organized power markets, SENA manages more than 10,000 megawatts (MW) of power generation capacity, with more than a third of that power coming from renewable sources including hydro, wind and solar.