Overview

Orion is a highly experienced trading firm within the increasingly complex U.S. Renewable Energy Certificate (REC) Markets. We bring counterparty reliability and access to both the buy- and sell-side of the markets.

Reliable Trading Partner

Our network of trading partners on both the buy- and sell-side is our most valuable asset. We commit ourselves to protecting, growing and investing in these relationships.

Industry-Focus

We specialize as a trading firm in U.S. REC markets. With over a decade of transactional experience, we’ve developed market knowledge and technical capabilities that help us navigate the complex and important issues faced by our clients and supply partners.

Experience

Our highly-experienced executive teams engage with clients and supply partners at the transactional level, maintaining involvement throughout the contract lifecycle. This ensures that our capabilities are fully applied in all aspects of a trade, from price structuring through delivery.

A Snapshot of Our Market Profile

3
billion+ kilowatt-hours (kWh) of RECs Delivered in the U.S.
376
Representing 376 Megawatts (MW) of Baseload Renewable Energy Capacity
103
Clients and Supply Partners Worked With
11
Years of Market Transaction Experience

About

Orion is a renewable energy certificate (REC) trading firm with a focus on U.S. markets. Founded in 2010, our principals have over a decade of experience working with generation asset owners to identify and optimize value for their environmental commodities. We are not a broker, but rather a counterparty on all REC transactions, a profile that helps our project partners and clients manage risk with an experienced partner capable of responding to unforeseen operational or market changes.

Markets

In the ever-changing U.S. ecosystem of state-based Renewable Portfolio Standard (RPS) legislation, Federal renewable energy mandates, cap-and-trade and the EPA’s Renewable Fuels Standards program (RFS2), our experience and trading focus gives us the ability to understand and capitalize on environmental commodity market opportunities that present themselves for our project partners and clients. For our project partners, we can navigate through complex regulatory environments and certification-based process that add strategic value to your assets. For clients who buy RECs for RPS compliance, voluntary goals or other strategic purposes, we can warehouse or diversify risk in a variety of trading and risk management techniques that we employ.

History

We were founded in 2010 by professionals that currently have over a decade of environmental commodity trading experience dating back to 2003. Since 2010, we have delivered over 3.3 million RECs to over 100 trading partners, representing approximately 367 MW of baseload capacity for a year. This depth of experience provides a core competency in the technical aspects of the markets and industry, a comprehensive understanding that we apply to meet the important needs of our clients.

Approach

We approach all of our trading relationships with a view to the long term – many of our partners we have worked with for years. Our growth alongside the evolving renewable energy industry has also positioned us well for the future. Over the years, the overall increase in the number of projects, the complexity and fluid nature of policies, market administration protocols and other drivers of market fundamentals has produced a complex market landscape. Our understanding and working knowledge of these complexities provides our counterparties with a trading partner for strategic and critically important REC transactions.

Trading and Market Services

We invest in capabilities that meet the objectives of our clients and supply partners in OTC trades in the U.S. REC markets. Our systems and process provide us with an understanding of the continually evolving fundamentals of the various markets that we participate in, providing key insights that inform our trading activities. We’ve also partnered with experienced legal, engineering and financial services professionals that extend our integrated market service capabilities. This focus results in long-term asset optimizations and cost-savings for strategically important business decisions. Our range of experience and marketplace services includes:

  • Spot market REC trades
  • Term trading (2-10 years)
  • Power purchase agreement (PPA) marketing
  • Revenue sharing REC marketing agreements w/ floor pricing
  • Options
  • Structured transactions involving interstate or cross-border REC transactions
  • Financial modelling
  • RPS certification
  • Engineering studies to support certification applications
  • Regulatory compliance filings
  • REC Tracking System setup and management
  • Audits and audit management
  • Credit, collateral and margin structuring and administration

Trading Partners

As counterparty on all buy- and sell-side REC transactions, our firm works with the following segments of U.S. renewable energy markets:

  • Independent Power Producers (IPPs) and merchant power plants producing renewable electricity, including corporate, municipal and cooperatively-owned energy projects that produce energy behind-the-meter or export renewable energy to the grid
  • Renewable energy project developers in all stages of development
  • Investor Owned Utilities (IOUs)
  • Publicly Owned Utilities (municipal and cooperatively-owned) that make market purchases of renewable energy to meet voluntary or compliance targets
  • Load Serving Entities (LSEs) in deregulated markets with RPS obligations
  • Renewable fuels producers (biogas / RINs under RFS2), buyers and developers
  • Federal and state government agencies purchasing renewable energy to meet Federal or local mandates

Projects

Technology expertise is critical to the REC markets. Having traded RECs from virtually every type of renewable energy technology, we can evaluate projects from a technical and market perspective not only to ensure compliance with market requirements, but also to identify and provide access to new markets as project are reconfigured, investments are made over time or policies change. We have direct experience working with the following technologies:

  • WIND
  • LOW-IMPACT HYDROELECTRIC
  • SUSTAINABLE BIOMASS
  • LANDFILL GAS
  • GEOTHERMAL ELECTRIC
  • BIOMASS CO-FIRING
  • WASTEWATER METHANE
  • MILL RESIDUE
  • SOURCE-SEPARATED URBAN WOOD
  • BAGASSE (SUGAR CANE RESIDUE)
  • SOLAR PHOTOVOLTAIC
  • SMALL-SCALE WIND
  • AGRICULTURAL METHANE (ANAEROBIC DIGESTERS)
  • SMALL HYDROELECTRIC
  • CONVERSIONS TO RUN-OF-RIVER (ROR) HYDRO
  • INCREMENTAL HYDRO CAPACITY
  • CONDUIT HYDROELECTRIC
  • REBUILDS AND REFURBISHMENTS

Corporate Office:

Orion Renewable Energy Trading Group, LLC

291 River Street

Troy, NY 12180

info@orion-renewables.com

PHONE: (518) 213-9555
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