Google Cloud announced it is partnering with Seattle-based startup LevelTen Energy to reduce the time it takes to negotiate a deal between clean energy developers and buyers.

 

Google Cloud announced it is partnering with Seattle-based startup LevelTen Energy to reduce the time it takes to negotiate a deal between clean energy developers and buyers.  Traditionally, agreements can take more than a year to complete. The deals currently begin with a request for proposals, followed by complex analytical processes to narrow the proposals, then a negotiation between the buyer and the seller results in a term sheet. Google and LevelTen's process reduces the complexity of the analytics, eliminates the short list of candidates and the term sheet, and replaces it with an executable power purchase agreement. LevelTen has raised $68.3M since its inception in 2016, including participation from Alphabet in 2021. The companies plan to make the simplification tool widely available this year.