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NEWS

RES helps owners add extra £2.1m to asset value per quarter
Oct 14, 2019
A Value Improvement Plan (VIP) developed by renewables operator RES has helped 33 wind or solar assets in the UK add an extra £21m in forecast revenue since 2017.

RES, the world’s largest independent renewable energy company, says it has leveraged its more than 35 years’ experience in wind, solar, storage and distribution to help its clients add an average of more than £2.1m per quarter to their forecast revenue between Q1 2017 and Q2 2019.

The company is now planning on introducing its VIP programme to more asset owners across the globe, saying it could help unlock tens of millions of pounds in extra revenue across the renewables network it manages.

Darren Cook, Head of Asset Management from RES said:Our experience means we look at options other asset managers simply might not. In energy, margins are everything and we know the importance of unlocking that extra value with assets of any size.

“In developing tailored VIP packages for our clients, RES pools all the expertise and experience we have gathered in our more than 35-year history to deliver significant cost savings and efficiencies to our partners. The result, identifying significant additional revenue in a short space of time, is a fantastic validation of that approach – but it just hints at the full potential VIP offers.”

VIP combines RES’ expertise in O&M and asset management to unlock extra revenue. Among those to have benefited are Aviva. RES worked extensively with a Distribution Network Operator (DNO) to agree a variation to a Grid Connection Agreement which unlocked an additional £4 million over the asset lifetime for Aviva by increasing the export availability of one of their wind farms.

Freddy Murray, Associate Director from Aviva Investors said: “Operating an asset to such a level of efficiency that you unlock even a fraction of extra revenue is to be welcomed, but that RES go that extra mile to unlock the true potential of our renewables installations makes them a very valuable partner.

“The benefits of RES’ VIP programme are multi-layered; for asset owners, it makes renewables a more appealing and rewarding investment, which in turn benefits consumers as we continue to transition towards a cleaner energy future.”

Darren Cook, Head of Asset Management added:Wind and solar power are fantastic ways to produce clean energy and both technologies are still rapidly evolving. Our extensive experience since the very beginning of the renewables industry and our ability to apply that knowledge to continuously innovate makes us the ideal partner to help unlock that extra value.”

RES pools all its expertise and experience to deliver significant cost savings and efficiencies to our partners. A recent report by DNV GL has shown that wind farm assets managed by RES perform 1% better than industry standard.

ENDS                                                                                                                                                                                                         

For more information, contact:

Amy Moore: 01224 806 604 / 07966 321 194 / amy.moore@webershandwick.com

Notes to editors:

About RES:

RES is the world’s largest independent renewable energy company active in onshore and offshore wind, solar, energy storage and transmission and distribution. At the forefront of the industry for over 35 years, RES has delivered more than 16 GW of renewable energy projects across the globe and supports an operational asset portfolio exceeding 3.5 GW worldwide for a large client base. Understanding the unique needs of corporate clients, RES has secured 1GW of power purchase agreements (PPAs) enabling access to energy at the lowest cost. RES employs more than 2,000 people and is active in 10 countries.