Wind turbines spin eternally and since the demise of Lucy, I find the solitude and magnificence of them eternally therapeutic.
Ingenious Infrastructure today announced it has successfully closed an investment into Reactive Technologies in support of the company’s most ambitious phase of growth to date.
Ingenious’ investment in Reactive Technologies is in line with its ongoing drive to seek out high-growth investment opportunities in the energy, communications, transportation and resource efficiency industries for the recently launched Infrastructure Ventures EIS Service. To date, Ingenious Infrastructure has deployed over £700m in energy infrastructure projects across the UK, Republic of Ireland and Australia.
Reactive Technologies is an energy company facilitating the transition to a low carbon future, through the implementation of world-leading technology solutions to address the energy industry’s greatest challenges. Reactive Technologies offers unique measurement and analytics services for grid operators, an energy optimisation platform for corporates and an Enhanced Power Purchase Agreement for renewable generators.
As a result of this investment, Reactive Technologies will be scaling up their activities to deliver services to new customers worldwide. Reactive Technologies’ innovative services enable corporates, renewable generators and grid operators to actively mitigate rising energy costs, optimise their renewable assets in a non-subsidy environment and gain unprecedented real-time grid visibility allowing for faster and more cost-effective decision making.
Commenting on the investment, Guy Ranawake, Investment Director at Ingenious said: “Reactive Technologies have developed and commercialised a number of compelling solutions for the evolving energy sector and have built a strong intellectual property portfolio. As an active investor, developer and manager of a wide range of energy infrastructure assets, Ingenious is delighted to be supporting world-leading innovation in the sector. We look forward to working closely with Reactive to implement the necessary solutions required as we transition towards a lower carbon energy future.”
Marc Borrett, CEO of Reactive Technologies said: “We are delighted that Ingenious has come onboard as the newest member of our investment team. Ingenious has an impressive portfolio of synergistic investments across a number of key geographies and we are excited to work with them on our most expansive growth phase yet. The investment from Ingenious represents a significant financial step forward for Reactive in our ongoing funding journey and underscores the commercial potential for our services worldwide.”
Ingenious has recently named a wind turbine at Newton Down Wind Farm in Porthcawl, South Wales in recognition of local resident Robert McCann.
A neighbour to Newton Down Wind Farm, Robert noticed that the site’s front gate had been forcefully damaged whilst on a walk close to the property. Robert took great lengths to contact the site managers as soon as possible and the issue was quickly resolved.
Roberto Castiglioni, Senior Investment Director of Infrastructure at Ingenious said “Collaborating with the local community is fundamental to the success of Ingenious clean energy initiatives, so we are grateful that Robert contacted us when he noticed something out of the ordinary at our property.”
Ingenious asked Robert if he would like to take the opportunity and name one of the wind turbines at Newton Down Wind Farm. Robert was heartened by the gesture. As he recently lost a long-time companion in his pet cat Lucy, he dedicated the wind turbine to her memory. The team met Robert last month at the facility to hold a naming ceremony and to unveil the plaque.
Robert’s community dedication and shared enthusiasm for clean energy is much appreciated by Ingenious and they are delighted to have him as a neighbour.
19 February 2018 – Stellata Energy (‘Stellata’), and its joint venture partner, Ingenious Infrastructure, today announces it has successfully reached several milestones in the development of the largest solar project in Western Australia (WA), Merredin Solar Farm (132MWp). Firstly, the Company has entered into a grid connection contract with Western Power. The deal, signed on 19 December, secures the Interconnection Works Contract (IWC) and Electricity Transfer Access Contract (ETAC) for the project. During the same month, an Electricity Generation Licence was also granted by the Economic Regulation Authority, making the project the largest solar farm in WA to have reached this point. Merredin has also now received Certified Reserve Capacity level with AEMO and is expected to sign its EPC contract in March this year. Successfully reaching these milestones ensures that construction remains on track to commence in June 2018, with energisation anticipated for June 2019.
The development of Merredin Solar Farm positions Stellata as one of the leading solar developers in WA, whose partnership with Ingenious commits to funding a pipeline of utility scale solar farms across the state. Together, the partnership brings a wealth of knowledge to the project with collective expertise spanning financing, developing and operating solar projects across the globe.
Commenting on the developments, Guy Beesley, Managing Director, Stellata said: “Securing the generation licence, grid connection and reserve capacity credits for Merredin Solar Farm represents a huge step forward for our partnership and the Merredin project, having only received planning permission in June last year. Now that the contracts are in place, we look forward to commencing construction and furthering our efforts to bring clean, renewable electricity to Western Australians.”
Ingenious Infrastructure is delighted to announce that our joint venture partnership with Australian solar developer, Stellata Energy (Stellata), has successfully secured planning permission for a 120MW large-scale solar PV farm in Merredin, Australia, the largest solar PV farm in Western Australia.
The granting of planning firmly cements Stellata as one of the leading solar developers in Western Australia. The news swiftly follows the recent announcement of the launch of the partnership. The partnership has committed to funding a pipeline of solar farms across the country, with a value in excess of AUD $200 million.
The Merredin Solar Farm spans 400 hectares in Western Australia’s central Wheatbelt and, once developed, is expected to generate an annual output of 260GWh of electricity, powering around 42,000 houses per annum and delivering clean energy into the South West Interconnected System (SWIS).
With construction scheduled to commence in the first half of 2018 and target for commissioning in Q1 2019, the project, which has a projected 30 year life, will be the largest solar farm to have received planning permission in Western Australia. The project is also the only grid connected solar farm to include planning approval for batteries and is designed to be battery ready.
The construction and operational phases of the Merredin Solar Farm will provide local employment opportunities and stimulus to local businesses, with an expected 200 people working on site during the construction period and further permanent and temporary staff to be employed during ongoing operations and maintenance.
Commenting on the venture, Troy Santen, Director, Stellata said: “Securing planning permission for the Merredin Solar Farm is another breakthrough for Stellata and Ingenious as we continue our efforts to bring large-scale solar energy to Western Australia. The Merredin Solar Farm will bring clean energy to thousands of homes across the Perth area, as well as the creation of hundreds of jobs in local communities. We look forward to replicating this achievement across our pipeline of solar projects.”
We are pleased to announce the launch of a joint venture with Stellata Energy (‘Stellata’), the Australian solar energy developer, with the shared ambition of bolstering solar energy generation across Australia. The partnership commits to funding a pipeline of solar farms across the country, with a value in excess of AUD $200 million, including a flagship 120MW ground-mounted project.
The funding is timely as the Australian Government’s federal renewable energy target seeks to double the current capacity of large-scale renewable energy to 33,000 GWh by 2020; in-turn fuelling the potential for privately supported investment opportunities in this sector.
The team at Stellata is well placed to succeed in bringing large-scale solar energy to Western Australia, having successfully developed over 600MW of ground-mounted and rooftop solar across Europe. Through the partnership, Stellata’s resource and capacity will be boosted by Ingenious’ dedicated team of investment professionals, which has raised and deployed over £9 billion, including £500 million in renewables projects across the UK and Ireland.
Commenting on the venture, Troy Santen, Director, Stellata said: “As a West Australian company, we are very excited to be partnering with Ingenious in our quest to bring utility scale solar power to our state. Our collaboration will drive forward the development of solar PV projects, as well as the creation of jobs in local communities.”
Sebastian Speight, Managing Director, Ingenious Infrastructure agreed: “Ingenious has worked closely with the team at Stellata on previous ventures and their track record of delivering high quality solar projects is testament to their knowledge and expertise in this sector. Australia has huge potential to benefit from solar energy, due to its geographical positioning and high levels of irradiation, and we are confident that Stellata can fully capture the rewards this technology can offer.”
Ingenious Infrastructure, the infrastructure investment division of Ingenious, the alternative investment manager, has added a 7.6MW wind farm in Scotland to its Ingenious Estate Planning (IEP) Service portfolio. St John’s Hill wind farm in Stonehaven, Aberdeenshire, was bought from Renewable Energy Ventures Ltd., a Scottish wind asset developer.
Ingenious’ advisers on the deal were Dentons on the legal side and K2 on the technical side. The seller was supported by Pinsent Mason and Greencat respectively. Accountancy firm Greenbank advised the seller on financial matters. The asset will be managed by Stirling-based energy project management firm, Becon Consultancy. The total value of the acquisition is approximately £18 million.
This is the first wind asset to be added to the IEP portfolio. Following the successful acquisition of a portfolio of 15MW of solar farms in 2016 from Spanish EPC contractor, Solarig, the purchase of St John’s Hill wind farm follows the team’s strategy to grow and diversify its £100m portfolio across a broad range of renewable energy assets, in order to mitigate revenues fluctuations caused by the sea-sonality of solar assets. Another 13MW of wind assets are expected to be acquired by the end of June 2017, taking the total to 23MW. The team is also seeking further deals in the secondary wind and solar markets.
Commenting on the acquisition, Roberto Castiglioni, Investment Director, Ingenious Infrastructure said “As Ingenious continues to expand its presence in the global renewable energy sector; St John’s Hill is certainly a strategic addition to the IEP portfolio. Diversification is at the core of our strategy, in order to mitigate risks and enhance returns, and the team’s expertise and previous experience in managing wind assets will prove beneficial in maximising the benefits of the asset for our investors”.
Sebastian Speight, managing director at UK energy and infrastructure investor Ingenious Infrastructure, spoke to CEP this week about the company’s plans to invest in new clean energy infrastructure, its market expansion strategy, energy trends in 2017 and more.
Read the full article here.
Ingenious Estate Planning (IEP), the discretionary fund management service (the Service) managed by leading alternative investment manager Ingenious, today announces two developments which will contribute considerably to the growth of its renewable energy capabilities.
Through its investee company Ingenious Renewables Energy Enterprises Limited (IREEL), IEP has completed the acquisition of a 5MW ground mounted solar plant, Morton Wood Solar PV Plant (Morton Wood), from Solarig, the Spanish EPC contractor. The plant, located in Worcestershire, is projected to provide electricity to almost 1,300 average UK households and will save in the region of 2,200 tonnes of CO2 per year. It is also expected to receive 1.2 ROCs/MWh (Renewables Obligation Certificates) from the UK government enabling the plant, and subsequently the Service, to benefit from government-backed income for the next 20 years. Revenue will also be generated from the sale of electricity through a long-term bank approved Power Purchase Agreement with NEAS Energy.
This is the third ground mounted solar PV plant that IREEL has acquired from Solarig in just six months. Ingenious Infrastructure’s portfolio of owned and/or managed ground-mounted solar projects now totals 120MW, producing over 115,000 MWh of solar power across the UK. 20MW of these projects are managed within the IEP Infrastructure portfolio. IREEL is currently negotiating the acquisition of another 10MW from Solarig.
The team also announces it has signed a £15 million long term finance facility with German bank, BayernLB. The agreement will unlock capital to aid the future development and acquisition of additional solar PV plants in the IEP portfolio.
Commenting on the deal, Karin Schramm, Senior Director, BayernLB, said “We have been working in partnership with Ingenious for a number of years, providing Ingenious Infrastructure with over £100 million of funding towards the development of renewable energy projects across the UK. With the team utilising the funding to deliver impressive projects such as Cowdown, a 40 MW solar PV plant in Hampshire, we remain confident in Ingenious’ collective experience and expertise as a market leader in this space.”
Commenting on both milestones, Roberto Castiglioni, Investment Director, Ingenious, said “The purchase of Morton Wood and the signing of the long term finance facility with BayernLB represent significant achievements for the IEP Infrastructure team as we continue in our efforts to bring renewable energy to thousands of households. Both transactions demonstrate our commitment to financing, developing and operating high quality investment opportunities in the UK which will bring value to shareholders and our IEP clients.”
Ingenious Estate Planning (IEP), the discretionary fund management service (the Service) managed by leading alternative investment manager Ingenious, today announced that through its investee company Ingenious Renewables Energy Enterprises Limited (IREEL) it has completed the acquisition of a 5MW ground mounted solar plant, Morton Wood Solar PV Plant (Morton Wood), from Solarig, the Spanish EPC contractor.
The plant, located in Worcestershire, is projected to provide electricity to almost 1,300 average UK households and will save in the region of 2,200 tonnes of CO2 per year. It is also expected to be accredited to receive 1.2 ROCs/MWh (Renewables Obligation Certificates) from the UK government enabling the plant, and subsequently the Service, to receive government-backed income for the next 20 years. Revenue will also be generated from the sale of electricity through a long-term bank approved Power Purchase Agreement with NEAS Energy.
This is the third ground mounted solar PV plant that IREEL has acquired from Solarig in just six months, marking another milestone in Ingenious Infrastructure’s growing presence in the UK renewable energy market. The division’s portfolio of owned and/or managed ground-mounted solar projects now totals 120MW, producing over 115,000 MWh of solar power across the UK. 20MW of these projects are managed within the IEP clean energy portfolio. IREEL is currently negotiating the acquisition of another 10MW from Solarig.
Commenting on the deal, Roberto Castiglioni, Investment Director, Ingenious, said “The purchase of Morton Wood is another significant development for the IEP Infrastructure team. As well as providing solar energy to over a thousand households, the transaction demonstrates our ongoing commitment to financing, developing and operating high quality investment opportunities in the UK which will bring value to our IEP clients.”
Ingenious Estate Planning (IEP), the discretionary fund service managed by Ingenious has, through its investee company Ingenious Renewables Energy Enterprises Limited (IREEL), closed an acquisition of two ground mounted solar PV plants in Derbyshire. The plants have a total combined capacity of c. 8MW and were acquired from Solarig Italia Development s.r.l, the Spanish EPC contractor (Solarig).
This transaction is the first part of the planned acquisition of a wider portfolio from Solarig which is expected to be completed before the end of the current subsidy scheme. The existing plants will benefit from 1.3 ROCs (Renewable Obligation Certificates) as they were connected before the end of March 2016. The smaller plant, a 3MW installation, is located in Yeldersley, Derbyshire while the other 4.8MW project is nearby in Alfreton. Both plants are equipped with tier-one Talesun Solar panels and Power Electronics inverters.
The two plants are expected to produce in excess of 7,700 MWh of green electricity per year; enough to power some 2,000 houses with a Co2 saving of more than 4,300 kg per year.
A third plant, also located in Derbyshire, is proposed to be acquired from Solarig by IREEL with a total installed capacity of 4.9MW is currently under construction and is proposed to be connected by August 2016 under the 1.2 ROCs scheme.
IREEL are also in discussions with Solarig in relation to the proposed acquisition of a further 4 ground mounted solar PV plants in the UK which are expected to be constructed and acquired before March 2017. If these transactions proceed, this will bring the total ground mounted solar PV portfolio invested in by IEP to around 40MW in size.
SgurrEnergy assisted as technical advisor while Berwin Leighton Paisner acted as legal advisor for IREEL, with Addleshaw Goddard having acted as legal counsel for Solarig.
