GO² by ECOHZ helps companies act responsibly and reduce their carbon footprint, while contributing to the building of new renewable power plants in a simple and effective way. GO² is an innovative solution for financing and developing new renewable energy production.
GO2 allows businesses to contribute top-financing to named renewable projects. The GO2 solution builds on the system of Guarantees of Origin, and bundles renewable energy consumption with a contribution to new renewable energy production. It supports projects in Europe using wind power, hydropower, solar power, geothermal energy or bioenergy. This enables customers to ensure that they are consuming clean energy, while adding more capacity to renewable energy production. ECOHZ believes a significant number of projects can be “activated” with top financing from GO2.
With GO², companies have the option of buying a high impact renewable energy product that is simple to implement without binding, long-term financial commitments. GO² provides a low-risk and low-cost solution, either combining with other companies or investing exclusively. Engaging in GO² for as little as one year can be enough to assure that a new power plant is built.
With GO2, ECOHZ has created a unique system that brings additionality. ECOHZ identifies possible new renewable energy projects, and works with customers and providers to realise the project. The ECOHZ Renewable Energy Foundation ensures to financing for the selected projects, and thanks to re-use of funds – the additionality impact is exponential. The ECOHZ Renewable Energy Foundation is an independent, foundation working to accelerate the construction of new renewable power plants. As a non-profit and tax efficient foundation, it is optimizing the money flow to the renewable energy projects.
GO2 is built on the following principles
GO tracking and reporting
GO2 is built on the European system of Guarantees of Origin (GO), ensuring proper tracking and reporting of the origin. Guarantees of Origin are issued in line with the RES Directive from 2001 (confirmed again in the 2009 directive) by European Union.
Renewable energy with Guarantees of Origin (GO) is expanded to include a direct contribution to new energy production. The GO2 top-financing covers up to 15% of the total project costs and triggers a domino effect. The ECOHZ Renewable Energy Foundation focuses on “ready-to-be-built” projects to ensure a fast deployment.
Delivering real increase
Any of the “mature” renewable technologies (solar, wind, hydro, geothermal & biomass) are eligible for GO2 funding. Only European projects in need of top financing are eligible. GO2 funding is not used to finance pilot projects or technologies under development.
The GO2 solution will be based on a firm investment allocation guarantee. A predefined share of the total will be directly allocated to a named project. When purchasing the ECOHZ GO2 a confirmation will be delivered to the customer, describing which share of the total purchase price is allocated to the projects.
Representation and reporting
The buyer of GO2 must correctly represent and report the percentage/volume of GO2 purchases relative to their total power consumption.
Third Party verification
Both investment flows and project development will be verified and audited by third party auditors.
The ECOHZ Renewable Energy Foundation will provide top financing to the projects using an attractive lending scheme. The lending scheme, although preferential compared to traditional sources, will ensure a payback of funds to the foundation. This creates a multiplier effect as the funds can be reinvested in yet another project. The foundation seeks to reinvest the funds through a circular financing model in this manner every three years.
- Documents emissions reduction
- Contributes to the development new renewable energy, amplified by a multiplier effect
- Shows environmental performance of your company
- Customises a flexible renewable energy solution to suit your needs
- ECOHZ handles all administrative tasks
- The new power plant will, over its lifetime, produce more renewable electricity than your annual consumption, making you energy positive
GO2 has a positive effect beyond the described value creation for businesses themselves.
- An improved and relevant market-based support mechanism – not replacing, but complementing existing national support schemes
- Further vitalisation of the market place for new renewable energy
- A viable framework for post-2020 renewable policy
- Increased value of existing renewable energy documented with GO
- Additional incentive for project developers
- Social and health benefits
The GO² concept is endorsed by CDP.
”We welcome ECOHZ’ leadership in providing the products the market wants and at the same time delivering important sustainability benefits. CDP has long supported renewable energy as a path to a low carbon economy. We are delighted to see a link created between the consumption of renewable electricity and the introduction of additional renewable capacity.”
We Mean Business
GO² is recognised by the Greenhouse Gas Protocol
January 2015 the World Resources Institute (WRI) presented its updated Greenhouse Gas Protocol Scope 2 Guidance. This is a new framework that brings increased clarity and assurance for corporations considering how to mitigate, document and report their electricity consumption. In the Scope 2 Guidance, GO² is recognised as an efficient and valuable instrument for corporations to create more renewable power production (page 92).
Even a small number of companies signing agreements to purchase GO² can yield large results in terms of long-term supply of new renewable electricity generation.