6th January 2024, Lytham, UK: Evolve Energy Supply Ltd (Evolve Energy), a licensed energy supplier specialising in flexible supply frameworks that integrate renewable energy solutions for UK Industrial and Commercial (I&C) businesses, has completed a long-term structured trading agreement with Shell Energy Europe Ltd (SEEL). Under the agreement, SEEL will provide Evolve Energy with commodity hedging services and access to a range of directly owned and third-party renewable energy assets. This collaboration will further enhance Evolve Energy’s ability to provide UK I&C businesses with certifiable renewable energy contracting options, tailored to every stage of their decarbonisation journey.
The agreement will combine Evolve Energy’s in-house technical capabilities and skills in customer engagement with SEEL’s expertise in delivering wholesale commodity, enabling Evolve Energy’s customers to scale their renewable energy commitments to both achieve ESG standards and satisfy supply chain partner requirements. Through the partnership, Evolve Energy aims to grow its power supply from 1.2 TWh p.a. to 4.2 TWh p.a. by 2031, significantly boosting its capacity to serve the net zero aspirations of the UK’s I&C sector.
This collaboration will advance Evolve Energy’s mission to break down the barriers that businesses face in accessing renewable energy. Many businesses with moderate energy needs struggle to access Corporate Power Purchase Agreements (CPPAs) due to generator credit requirements and limited supplier support, often relying on renewable certificates to reach clean energy targets. The company’s ability to manage complexity, coupled with a streamlined approach, enable non-standard supply solutions that connect independent generators with adaptable CPPA options. Working together with SEEL, Evolve Energy will address a key UK market need by offering I&C businesses tailored, flexible contracts and credit support, making renewable energy even more accessible.
James Hall, Operations Director at Evolve Energy, commented: “We’re delighted to announce this agreement with SEEL, the result of nine months of hard work and collaboration. Together, we’ve developed a framework that integrates significant renewable energy volumes, directly supporting our strategy for a sustainable future. While we had interest from other parties, it was crucial to partner with an organisation that deeply understands our business and shares our vision. This agreement not only secures a robust foundation for future growth but also strengthens our financial resilience, enabling us to navigate volatile commodity markets and credit challenges that often hinder non-investment-grade organisations. It positions us to deliver on our customer’s net zero aspirations at scale, and firmly marks the start of a new era for us as a business.”
In the structuring of the deal, Evolve Energy were advised by their long-term legal partners, Shakespeare Martineau LLP, while Watson Farley & Williams LLP advised SEEL.
About Evolve Energy
Evolve Energy is a licensed supplier of electricity and natural gas dedicated to supporting Industrial & Commercial (I&C) customers through the complexities of a restricted energy market.
Committed to efficiency and sustainability, Evolve Energy delivers unique supply solutions to empower businesses in achieving their net-zero goals.
Their specialism in flexible supply contracts and commitment to the integration of renewable energy into customer supply positions makes them well placed to support customers at all stages of their pathway to decarbonisation. They prioritise strategic customer engagement with strong communication to deliver optimum supply solutions for their clients.
