Connect with us

Energy

Lightsource Secures Operations & Maintenance And Asset Management Of 365MW Solar PV Portfolio

Published

on

sun by gr33n3gg via flickr

Lightsource Renewable Energy, Europe’s leading solar power organisation, has partnered with Vortex, a renewable energy platform run by EFG Hermes Private Equity arm, in the take-over of one of the largest solar PV Portfolio’s in the UK.

Lightsource will provide long-term Operations & Maintenance and Asset Management services to Vortex, which has entered into a sale and purchase agreement to acquire the 365MW operational solar PV portfolio, owned by TerraForm Power.

The portfolio comprises of 24 operational assets and is valued at an Enterprise Value of around £470 million. The portfolio, with and an average asset age of two years, is expected to generate revenues of c. £40million in 2017 with an EBITDA margin of c. 80%.

A key area of growth for the Lightsource is in leveraging its in-house capabilities to offer comprehensive Operations & Maintenance and Asset Management services to third party clients. Since its inception in 2010, Lightsource has managed more than 180 utility scale assets across England and Wales. Offering clients a single custodian for their assets, Lightsource provides a fully comprehensive in-house service covering all aspects of Operations & Maintenance and Asset Management– including site monitoring and optimisation; reporting; finance management and loan compliance; contracts management.

EFG Hermes Head of Private Equity, Karim Moussa, said: “We chose to partner with Lightsource because of their unparalleled experience in managing significant PV solar portfolios with a variety of equipment types. Lightsource’s clear track record of onboarding, managing and enhancing the performance of assets under their stewardship made them the clear choice to manage this portfolio.”

Adele Ara, Director of Asset Management at Lightsource, said: “We are delighted with EFG Hermes’ choice to appoint Lightsource as trusted asset manager for their UK solar PV portfolio. This partnership highlights our in-house team’s dedication to operational excellence in managing and optimising renewable energy assets and our multidisciplinary operating model. Our presence here in the UK gives us the perfect foundation for managing UK-based renewable assets. We believe that maintaining a strong sense of accountability coupled with a cross-functional structure are the basis of a successful asset management service.

“We have attracted a talented, highly skilled and motivated Asset Management team where technical management capabilities are complemented by strong financial and commercial skills, covering the full suite of AM responsibilities – including managing landowner relationships, contractual compliance, monitoring government regulations, grid systems, power sales and renewable benefits, performance analysis, as well as loan compliance and financial control. We have also invested considerable resources into specialist in-house expertise to tackle issues in additional areas such as planning, performance, insurance and PPAs.”

Mark Turner, Managing Director at Lightsource Services (Lightsource’s O&M business), said: “Being chosen to partner EFG Hermes is testament to the breadth of skills and capabilities that Lightsource has developed in Operations and Maintenance. A portfolio of this size requires a capability that delivers services that are tailored to the specific requirements of each plant and are executed with demonstrably consistent high quality across all sites. The efficient and effective infrastructure we have built means that we directly monitor and control every activity that takes place on each site, from regular grass cutting and panel cleaning, monitoring, communications, LV & HV systems, health & safety to completely overhauling and reconstructing sections of the plants to enhance performance. Our 75-strong regionally-based field service team deliver predictive, preventative and rapid response corrective maintenance to over 1.7GW of operational assets across the UK– including this latest addition to its portfolio.”

Nick Boyle, CEO at Lightsource, said: “We’re delighted to have partnered EFG Hermes to secure this deal. We’ve built our business around an incredibly talented and dedicated in-house team which has enabled us to grow rapidly to become one of the world’s largest solar developers. We’re very proud of the knowledge and expertise we have developed over the last five years and our in-house capabilities allow us to provide a gold-standard Asset Management and Operations and Maintenance service to third party clients and thus help secure such quality business. We look forward to a long and successful partnership with EFG Hermes.”

Energy

7 New Technologies That Could Radically Change Our Energy Consumption

Published

on

Energy Consumption
Shutterstock Licensed Photo - By Syda Productions | https://www.shutterstock.com/g/dolgachov

Most of our focus on technological development to lessen our environmental impact has been focused on cleaner, more efficient methods of generating electricity. The cost of solar energy production, for example, is slated to fall more than 75 percent between 2010 and 2020.

This is a massive step forward, and it’s good that engineers and researchers are working for even more advancements in this area. But what about technologies that reduce the amount of energy we demand in the first place?

Though it doesn’t get as much attention in the press, we’re making tremendous progress in this area, too.

New Technologies to Watch

These are some of the top emerging technologies that have the power to reduce our energy demands:

  1. Self-driving cars. Self-driving cars are still in development, but they’re already being hailed as potential ways to eliminate a number of problems on the road, including the epidemic of distracted driving ironically driven by other new technologies. However, even autonomous vehicle proponents often miss the tremendous energy savings that self-driving cars could have on the world. With a fleet of autonomous vehicles at our beck and call, consumers will spend less time driving themselves and more time carpooling, dramatically reducing overall fuel consumption once it’s fully adopted.
  2. Magnetocaloric tech. The magnetocaloric effect isn’t exactly new—it was actually discovered in 1881—but it’s only recently being studied and applied to commercial appliances. Essentially, this technology relies on changing magnetic fields to produce a cooling effect, which could be used in refrigerators and air conditioners to significantly reduce the amount of electricity required.
  3. New types of insulation. Insulation is the best asset we have to keep our homes thermoregulated; they keep cold or warm air in (depending on the season) and keep warm or cold air out (again, depending on the season). New insulation technology has the power to improve this efficiency many times over, decreasing our need for heating and cooling entirely. For example, some new automated sealing technologies can seal gaps between 0.5 inches wide and the width of a human hair.
  4. Better lights. Fluorescent bulbs were a dramatic improvement over incandescent bulbs, and LEDs were a dramatic improvement over fluorescent bulbs—but the improvements may not end there. Scientists are currently researching even better types of light bulbs, and more efficient applications of LEDs while they’re at it.
  5. Better heat pumps. Heat pumps are built to transfer heat from one location to another, and can be used to efficiently manage temperatures—keeping homes warm while requiring less energy expenditure. For example, some heat pumps are built for residential heating and cooling, while others are being used to make more efficient appliances, like dryers.
  6. The internet of things. The internet of things and “smart” devices is another development that can significantly reduce our energy demands. For example, “smart” windows may be able to respond dynamically to changing light conditions to heat or cool the house more efficiently, and “smart” refrigerators may be able to respond dynamically to new conditions. There are several reasons for this improvement. First, smart devices automate things, so it’s easier to control your energy consumption. Second, they track your consumption patterns, so it’s easier to conceptualize your impact. Third, they’re often designed with efficiency in mind from the beginning, reducing energy demands, even without the high-tech interfaces.
  7. Machine learning. Machine learning and artificial intelligence (AI) technologies have the power to improve almost every other item on this list. By studying consumer patterns and recommending new strategies, or automatically controlling certain features, machine learning algorithms have the power to fundamentally change how we use energy in our homes and businesses.

Making the Investment

All technologies need time, money, and consumer acceptance to be developed. Fortunately, a growing number of consumers are becoming enthusiastic about finding new ways to reduce their energy consumption and overall environmental impact. As long as we keep making the investment, our tools to create cleaner energy and demand less energy in the first place should have a massive positive effect on our environment—and even our daily lives.

Continue Reading

Energy

Responsible Energy Investments Could Solve Retirement Funding Crisis

Published

on

By

Energy Investments
Shutterstock / By Sergey Nivens | https://www.shutterstock.com/g/nivens

Retiring baby-boomers are facing a retirement cliff, at the same time as mother nature unleashes her fury with devastating storms tied to the impact of global warming. There could be a unique solution to the challenges associated with climate change – investments in clean energy from retirement funds.

Financial savings play a very important role in everyone’s life and one must start planning for it as soon as possible. It’s shocking how quickly seniors can burn through their nest egg – leaving many wondering, “How long your retirement savings will last?

Let’s take a closer look at how seniors can take baby steps on the path to retiring with dignity, while helping to clean up our environment.

Tip #1: Focus & Determination

Like in other work, it is very important to focus and be determined. If retirement is around the corner, then make sure to start putting some money away for retirement. No one can ever achieve anything without dedication and focus – whether it’s saving the planet, or saving for retirement.

Tip #2: Minimize Spending

One of the most important things that you need to do is to minimize your expenditures. Reducing consumption is good for the planet too!

Tip #3: Visualize Your Goal

You can achieve more if you have a clearly defined goal in life. This about how your money can be used to better the planet – imagine cleaner air, water and a healthier environment to leave to your grandchildren.

Investing in Clean Energy

One of the hottest and most popular industries for investment today is the energy market – the trading of energy commodities. Clean energy commodities are traded alongside dirty energy supplies. You might be surprised to learn that clean energy is becoming much more competitive.

With green biz becoming more popular, it is quickly becoming a powerful tool for diversified retirement investing.

The Future of Green Biz

As far as the future is concerned, energy businesses are going to continue getting bigger and better. There are many leading energy companies in the market that already have very high stock prices, yet people are continuing to investing in them.

Green initiatives are impacting every industry. Go Green campaigns are a PR staple of every modern brand. For the energy-sector in the US, solar energy investments are considered to be the most accessible form of clean energy investment. Though investing in any energy business comes with some risks, the demand for energy isn’t going anywhere.

In conclusion, if you want to start saving for your retirement, then clean energy stocks and commodity trading are some of the best options for wallets and the planet. Investing in clean energy products, like solar power, is a more long-term investment. It’s quite stable and comes with a significant profit margin. And it’s amazing for the planet!

Continue Reading
Advertisement

Facebook

Trending