A Virtual Power Purchase Agreement (VPPA) is a contract between an energy buyer and the developer of a renewable energy project, such as a solar array. In this agreement, the buyer guarantees the developer will receive a set price for the energy, and the developer receives the renewable energy credits (RECs) for the energy that is generated and sold. These contracts are typically for 10-20 years.
Genie Energy Ltd., (NYSE: GNE, GNEPRA) is a global energy solutions company. We supply customers in the US and Europe with electricity, including electricity generated from renewable resources and with natural gas. Through Genie Solar Energy and Prism Solar, we design, construct and install commercial solar energy solutions. We provide commercial and industrial clients with energy brokerage and consultative services through our Diversegy brand.