U.S. Renewable Developer Strengthens Commercial Agility with Adapt2 Solutions

Delivering Energy with Integrity, Innovation and Impact 

This case study focuses on a leading renewable energy company headquartered in the U.S. that operates a portfolio of 30 wind, solar, and storage facilities totaling 4 gigawatts (GW) of capacity.  The organization is committed to decarbonizing the U.S. energy system through the responsible development of utility-scale renewable energy and has an additional 10 GW of near-term development pipeline and 20+ GW in its longer-term queue, with active projects spanning ERCOT, MISO, SPP, and CAISO.  

Since being acquired by private equity, the business has experienced explosive growth, with nearly 1,000 MW added in the last year alone and 10 GW of installed capacity targeted by 2028. This expansion is paired with a deep commitment to local partnerships, domestic job creation, and land stewardship. Today, the organization is operationally active across most U.S. ISOs and plays a growing role in strengthening America’s renewable energy supply chain.  

Turning Growth Risk Into Opportunity  

The renewable developer’s growth came with clear opportunities - alongside substantial complexity. In 2023, the company was managing just 7 assets, with scheduling and settlements entirely outsourced. That number grew to 12 by the end of 2024, is on track to exceed 20 in 2025, and will reach more than 60 projects by 2028. As they scaled, continuing to rely on external vendors for asset management became not only impractical; it became a risk.  

Rising third-party costs, limited visibility into daily performance, and increasing exposure to portfolio basis risk all pointed to a critical inflection point: the business needed to bring its operational infrastructure in-house. At the same time, executives recognized a broader opportunity. If they could build the right internal systems, they wouldn’t just manage their growth; they could optimize it.  

In 2022, they launched a new commercial and operational function with a mission to turn growth-related risks into revenue opportunities. To achieve that vision, the team needed a technology partner that could support every stage of the transaction lifecycle - from risk monitoring and position management to trade execution and performance reporting.  

This was more than adopting software; it was about building a commercial engine inside a fast-growing renewable energy business. It meant shifting from outsourced operations to full autonomy, developing risk protocols and trading policies from scratch, and standing up the infrastructure needed to serve a 10 GW portfolio.  

Building the Foundation for Energy Services  

After a competitive evaluation, the company selected Adapt2 as their ISO market operations, ETRM and settlements platform.  Adapt2’s architecture aligned directly with their vision: a single system to handle bidding, scheduling, settlements, trade capture, risk modeling, Power Purchase Agreements (PPAs) and Renewable Energy Credit (REC) management, and integration with the company’s general ledger.  

To scale effectively and manage an expanding portfolio of resources across multiple ISO markets, the team recognized the need for speed, automation, and streamlined operations. Adapt2’s Bid-to-Bill (B2B) platform stood out as the ideal solution, combining an intuitive interface with advanced cloud-native technology. With B2B, the renewable developer can formulate bidding strategies and submit offers across various ISOs—all within a single system. This all flows through to settlements, reducing manual effort, increasing accuracy, and ensuring full market compliance. Today, Adapt2’s B2B solution remains central to the organization’s services team with complete data transparency into asset performance and management.  

The Energy Services team spent several months defining and codifying its approach to portfolio risk. This included policies for position and volume limits, mark-to-market valuations, VaR, and gross margin at risk. Adapt2 became the system of record, updated daily and available in real-time.  

The ETRM system now ingests 14-day forecasts, outage data, and generation expectations to produce dynamic risk positions. Traders use this insight to inform market activity across day-ahead and real-time markets, as well as Financial Transmission Rights (FTRs). As trades are executed and settled, Adapt2 updates risk exposures automatically, supporting continuous optimization.  

In addition to scheduling and risk, Adapt2’s capabilities extend to PPA and REC management. The company uses Adapt2 Green to structure and settle complex contracts that involve basis-sharing formulas, multiple pricing points, and custom terms. These capabilities have eliminated the need for manual reconciliation and improved confidence in financial performance reporting.  

Equally important, Adapt2 integrates with the company’s accounting system, allowing for seamless connection between operational transactions and the general ledger. This ensures that financial, commercial, and operational teams are working from a shared and validated dataset.  

Transformational Impact Across the Business 

With Adapt2 as the backbone of its operational and commercial infrastructure, the company has redefined how it manages risk and captures value.  

Energy Services, once a concept, is now a fully functional business unit with a trading floor, risk desk, and direct market access. The organization can monitor and manage every component of its energy portfolio—spanning ERCOT, CAISO, PJM, and SPP—within a single platform.  

The shift has produced significant operational and financial outcomes:  

• The renewable developer broke even on its Adapt2 investment in just 18 months and estimates it will save $2 million in operating costs by 2027.   

• The company eliminated reliance on third-party service providers, gaining greater flexibility, transparency, and speed.  

• Basis risk exposure is actively managed across a high-growth portfolio, with daily Mark-to-Market, Value at Risk (VAR), and open position reporting supporting more informed decisions.  

• Trade execution, scheduling, and settlement are streamlined and synchronized. Risk metrics update automatically with each new trade.  

• PPA and REC performance is monitored in real-time using custom logic, increasing precision in forecasting and settlement.  

As the renewable company eyes continued growth, its Adapt2-enabled infrastructure positions it for long-term commercial success. The team estimates that even a $0.50/MWh improvement in basis optimization across 25 million MWh would pay for the platform tenfold.  

But perhaps the most important result is organizational: they now operate with the confidence and agility of a mature energy company. With a unified system supporting every stage of the transaction lifecycle, the company has turned a period of hyper-growth into an engine of continuous optimization.  

Adapt2 hasn’t just supported that shift—it’s made it possible.