ITN Business: The Renewable Energy Revolution

UrbanChain Founder CEO Somayeh Taheri has featured in an ITN programme entitled The Renewable Energy Revolution.

During the show Shoosmiths Energy & Infrastructure Partner Chris Pritchett tells ITN: “What platforms such as UrbanChain are trying to do is to create a matchmaking service. And that’s where it gets extremely exciting as people do want to buy renewable energy directly from the people generating it.

“It’s a bit like people wanting to buy their eggs directly from the farm. You cut out a lot of middle people so you get the eggs at a better price, you know where they come from and you’ve got the certainty of working directly with the supplier. It’s no different in the energy market.”

The programme focuses on the valuable role Corporate Power Purchase Agreements can play in the green energy transition and also showcases UrbanChain, Central Co-Op and Engie UK.

Somayeh Taheri tells ITN: “We decouple everybody from the wholesale market on the finance side of energy and create an alternative market with renewables to exchange directly with end users.

“Our role here is not to be a buyer and seller of power anymore - it’s about creating end-to-end service between generators and consumers of power. When you’re disrupting an energy market there are definitely huge unknowns and being up to date with what is upcoming was the main reason for us to choose Shoosmiths.”

Watch the full programme here.