3Degrees acquires Origin Climate

Written By: Stratton Report
April 6, 2017

On April 6, 3Degrees announced it had acquired Origin Climate.

According to 3Degrees, the combined company will offer a comprehensive range of renewable energy and climate expertise to clients’ environmental and sustainability goals.

3Degrees noted that Erin Craig and Mark Mondik, the managing directors of Origin Climate, will take on leadership roles within the newly expanded 3Degrees. Craig will lead the consulting organization that will serve clients’ climate and renewable energy needs. Mondik will lead the carbon market business, including carbon credit origination.

Per the firm, Dan Kalafatas will remain the executive chairman and Steve McDougal will continue to serve as CEO.

3 Degrees stressed that in recent years, Origin Climate has advised clients on more than 1400-MWs of completed renewable power procurement transactions, and become a major force guiding corporate renewable energy strategy in the United States.  The merger will permit 3Degrees will enhance its offerings, including PPAs, contracted purchases from competitive energy providers, green tariffs, and tax equity and other owner-investment options—as well as customizable REC and carbon offset products sourced from around the globe.

Nicola Peill-Moelter, Ph.D., senior director of environmental sustainability for Akamai Technologies noted:

Origin Climate guided our organization as we committed to achieving 50% renewable energy and an absolute reduction in greenhouse gas emissions for our highly distributed content delivery network spanning 120 countries. They helped us develop our procurement strategy and led us through our first virtual PPA (VPPA) process. We are excited to see how Origin Climate will bring success to more companies as part of the 3Degrees team.

Craig remarked: “We’re seeing a number of companies with impressive renewable energy goals rushing to sign VPPAs. VPPAs are a great structure, but they’re not for everyone. The companies we work with are seeking renewable energy as a primary objective; participating at-risk in wholesale power markets is not on their ‘to-do’ list. By combining 3Degrees’ leadership in commercial, industrial and utility sectors with Origin’s experience advising companies on a wide variety of energy supply structures, we are now uniquely positioned to help clients identify and implement the solution that best meets their needs—whether a VPPA or otherwise.”

3Degrees emphasized that its existing business line is helping investors and publicly owned utilities across the United States with custom compliance and voluntary REC products in order to meet renewable portfolio standards, as well as create voluntary renewable programs that engage customers.

Larry Owens, customer services manager of Silicon Valley Power, one of the top utility sellers of renewable energy, commented: “For more than a decade, 3Degrees has helped us deliver compelling renewable energy choices that meet the commitments and interests of our customers. With the integration of Origin Climate, 3Degrees is even better positioned to serve a growing interest among our largest customers and position Silicon Valley Power as a utility of the future,”

Per 3Degrees, both it and Origin Climate and 3Degrees are certified B Corporations.