Through this partnership, Think RE’s renewable energy marketplace “RE Wave” offers onsite and offsite solutions of buying and selling renewable energy combined with the ability to include weather hedges for optimizing the risk position of market participants. „RE Wave“ enables industrial end consumers a direct energy purchase straight from the uploaded renewable energy assets. Munich Re will add their portfolio of services to the platform enabling users a quick access to commercial indications for various weather risk solutions such as Wind Energy Yield Covers or Volume Firming Agreements. Once launched, these RE projects will run with utmost efficient match-making thanks to Think RE’s expertise in the field of power purchase agreements (PPAs) and direct investments in RE assets.
“We are excited to advance at full steam on our platform now with a solid strategic partner that brings extensive experiences to the table,“ sums up Dr. Steffen Hundt, Co-Founder and CEO at Think RE. Due to the strategic cooperation with Munich Re, „RE Wave“ will optimize the risk structure of renewable energy projects for market participants like utilities, corporate energy buyers, and producers of renewable energy. Therefore, power purchase agreements become available even in more volatile market situations and offer great potential for RE projects.
“The transition to renewable energy must take place at full speed. Therefore, we need fast, targeted and functional platforms like RE Wave. We are more than happy to contribute to paving the ground for these sustainable solutions” says Ronny Bendlin Spür, Senior Originator at Munich Re.
The Companies
Munich Re (Group) is one of the world's leading risk managers. Founded in 1880 in Germany, the company is now active on a global scale offering reinsurance, primary insurance, related services, and capital market solutions. The Weather and Commodity Group's tailored risk management solutions provide financial relief to entities whose revenues are easily impacted by changes in the weather and/or commodity prices. The team offers financially settled weather covers to manage non-catastrophic weather outcomes that impact clients’ financial key performance indicators. These weather risks include excess or insufficient temperatures, precipitation, wind, irradiation and can be combined with price indices for natural gas or electricity.
Think RE GmbH supports companies in their net-zero journey and offers solutions towards improved sustainability. Based in Leipzig, the company, offers a comprehensive portfolio of services including workshops on structuring of power purchase agreements, financial modeling and purchase or sale of renewable assets, as well as procurement and sales strategies for buyers and sellers of renewable energies. With the digital green energy procurement platform "RE Wave", participants gain access to a verified network of energy buyers and sellers in order to initiate medium to long-term PPAs with an excellent probability of execution. Based on unique rating, price and portfolio mechanism, RE Wave focuses on synchronizing PPA parameters with the requirements of financing institutions to ensure bankability and, thus, standardizes RE transactions to accelerate the energy transition.
Contacts
Munich RE: Ronny Bendlin Spür (Senior Originator)
Email: rbendlinspuer(at)newre.com
Think RE: Dr. Steffen Hundt (Co-Founder and CEO)
Email: hundt(at)think-renewable.com
