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Ivor Catto, chief executive officer at RES said: For us, 2018 was the ‘Year of Renewables’ and one in which Power Purchase Agreements came of age, the clearest indication yet that renewable energy has become as competitive, as other forms of energy.
RES has hailed 2018 as the ‘Year of Renewables’ after the company added 1.6GW of new energy to its wind, solar and energy storage portfolio.
With this increase, RES – the world’s largest independent renewables company – has reached a 16GW global milestone, which offsets more than 17million tonnes of carbon annually.
During the year, the UK-headquartered company saw increased interest in Power Purchase Agreements, with November’s agreement with Royal Caribbean Cruises Ltd helping the company surpass more than 1 GW of contracts with corporate customers. RES has previously signed agreements with Microsoft, Google, General Mills, Telstra, HSBC and General Motors.
RES’ remarkable success is a result of widespread international growth. In North America, the company has developed and/or constructed 12 new wind, solar and storage projects, while in France the company completed three wind farms totalling 40MW in capacity and won its first repowering contract for the first wind farm RES built in the country.
In the UK, RES completed the 25MW Castlecraig wind farm in Northern Ireland and three new storage facilities with a combined capacity of 80MW, helping cement RES’ position as a market leader in the field. The company also won a contract to build a 10MW battery storage project in Bordesholm, Germany, and Navigant Research this month named RES as one of the world’s leading players in storage.
In Australia, RES commenced construction of the 429MW Murra Warra wind farm. Once complete, the project will be one of the largest wind farms in the southern hemisphere.
Across the globe, the company has delivered significant growth in its asset management business, now providing support services to 3.6GW of assets for clients, with more growth expected in the year ahead with the launch of new wind operations and maintenance (O&M) services.
Ivor Catto, chief executive officer at RES said: “For us, 2018 was the ‘Year of Renewables’ and one in which Power Purchase Agreements came of age, the clearest indication yet that renewable energy has become as competitive, as other forms of energy.
“We have now developed and built over 16GW of wind, solar and storage assets across the world after growing our portfolio by 1.6GW in the last year. Collectively we now offset enough carbon which is equivalent to 531,250 trucks of coal – if you lined them up end to end they would stretch from Albuquerque to London.
“We have made great progress in 2018 and this provides us with a solid foundation to continue to build towards a future where everyone has access to affordable zero carbon energy, which is the vision of the company.”