FEBRUARY 23RD, 2024

Basis Climate Joins Forces with Zettawatts to Leverage Clean Energy Tax Credit Transactions for Renewable Energy Certificate (REC) Purchases

Basis Climate is thrilled to announce a strategic partnership with Zettawatts, a leading platform for clean energy transaction management. This collaboration marks a significant step forward in our shared mission to simplify and accelerate the clean energy transition.

Zettawatts focuses on Renewable Energy Certificates, or RECs, a tracking mechanism designed by the Environmental Protection Agency for energy generated by specific renewable sources like wind or solar. Through Zettawatts’ Additionality REC Market, corporations can make a forward commitment to buy unbundled RECs from new renewable energy projects under development. This unique approach allows for instant diversification, reducing buyer and seller risks. By acting as a central hub, Zettawatts represents a bankable revenue stream for project developers and ensures that a given corporation is not exposed directly to a single project for the Additionality claim.

By joining forces, Basis Climate and Zettawatts will create a powerful ecosystem that benefits all stakeholders involved in clean energy projects:
For project developers: Zettawatts' streamlined platform supports Additionality REC marketing, while Basis Climate's tax credit marketplace allows developers to access its rapidly growing tax credit buyer market. 

For investors: Investors can identify sized tax credit purchasing opportunities whose profits can fund Additionality REC purchases and sustainability initiatives.
In 2023, Basis Climate released a white paper discussing this type of initiative, highlighting how organizations can fund sustainability initiatives through tax credit purchases. We are excited to see this concept in action with the Zettawatts partnership, offering yet another pathway for corporations to engage in sustainable practices while benefiting financially.
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