|17 November 2015|
Scotland’s renewable energy industry received a boost with news that ten innovative wind turbines will be built and located in the country over the next 12 months.
Orenda Energy Solutions Limited, a turbine manufacturer for the global medium distributed wind industry with locations in Ontario, Canada and Livingston, Scotland, has secured a £2 million deal for 10 of its 51kW Skye ‘tilting tower’ wind turbines with privately-owned Italian investment fund, CanadEnergy.
The turbines will be located in Scotland and built out in a phased programme over the next months, with Orenda Energy Solutions providing a complete turnkey solution including the developed sites, the wind turbine systems, installation, commissioning and on-going operation and maintenance.
For this contract, CanadEnergy has created a UK subsidiary company, Britannia Energy who will own the developed sites.
This is its first venture into the UK wind energy market but CanadEnergy has set its sights on actively expanding its projects pipeline across Europe and Canada, adding to a wide ‘green energy’ long term investments programme. It already has a number of wind energy projects under development in Canada.
Luca Roffi, president of CanadEnergy said: “Orenda’s turbine design and its ability to be folded down quickly for maintenance, struck our Board of Directors as practical steps to keep long term operating costs low. The business plan Orenda Energy presented to us met our demanding requirements, and the contract negotiations went well. We were pleased to have the opportunity to participate in Scotland’s renewable energy industry, despite the recent UK onshore wind Feed in Tariff changes”.
Its director Enrico Montangero, added:“Our investors look for project returns that are substantially guaranteed for the life of the equipment and are in countries with a stable, long-term outlook. Equally, Scotland has excellent wind resources and benefits from an infrastructure that recognises the potential and importance of its natural environment. Operating in the UK and specifically Scotland will be of significant benefit to CanadEnergy.”
Orenda Energy was advised by Dundee-headquartered, DC Consulting, one of Scotland’s leading independent corporate finance firms which specialises in sourcing emerging technology companies for investors.
Angus Hay, director at DC Consulting said: “We are delighted to have supported Orenda in delivering a funding solution to assist with the role out of their innovative wind turbine products into the UK market. DC Consulting has a proven track record of supporting young and ambitious companies in delivering tailored funding solutions particularly in the Energy Renewable sector.”
Work on the contract starts immediately, with preliminary excavation and developmental work commencing at three pre-consented sites – two in Aberdeenshire and one in the Western Isles – with other locations set to come on stream at the beginning of next year.
Other sites have been identified by Orenda Energy and are at various stages of the planning process.