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The agreement requires RES to own over 1000 spare parts that are compatible with Octopus Renewables’ inverter fleet and deliver these on-demand within a guaranteed time period. This provides substantial availability improvement and commercial advantage for 640 MW of Octopus’ UK solar portfolio.
To support this and other recent growth, RES opened an operations and maintenance (O&M) site in Exeter earlier this year. The new 2000 sq ft facility enables enhanced spare parts management for all RES’ clients as well as office facilities for the team locally.
In October RES and Octopus Renewables announced they had extended their partnership to a total of 503 MW of operational assets after two new wind farm asset management contracts and a portfolio of solar O&M work was awarded to RES. RES won O&M contracts for 42 Octopus Renewables solar farms in the UK, representing a significant share of Octopus’ UK solar portfolio.
Brian Darnell, Head of Solar and Storage O&M at RES, said: “We’re thrilled to be offering Octopus a unique multi-vendor spares management service along with a delivery guarantee for a large portion of its solar sites in the UK. When combined with our O&M service, the centralised parts management provides uninterrupted performance for solar assets for a much lower cost than the traditional approach.
“When equipment is offline due to lack of spare parts, it has a negative impact on energy generation. This new arrangement will actively support the production of much more green power and help Octopus’s assets perform more efficiently. It has taken significant time and effort to design, agree and implement this novel and sophisticated parts management process from scratch. I’d like to thank those involved from both RES and Octopus for making this possible.”
Thomas Rosser, Asset Management Director at Octopus Renewables said: “We have developed a great working relationship with RES over the past five years and we’re really pleased to build on this with the introduction of a bespoke spares management system. We look forward to continuing to work alongside RES who share our focus for driving a future powered by renewable energy.”
RES is the world’s largest independent renewable energy company, active in onshore and offshore wind, solar, energy storage, transmission and distribution. In its 39-year history, RES has delivered more than 18 GW of renewable energy projects across the globe.
For further information about RES, visit www.res-group.com
Notes to editors:
RES is the world’s largest independent renewable energy company active in onshore and offshore wind, solar, energy storage, transmission and distribution. At the forefront of the industry for 39 years, RES has delivered more than 18 GW of renewable energy projects across the globe and supports an operational asset portfolio exceeding 6cGW worldwide for a large client base. Understanding the unique needs of corporate clients, RES has secured 1.5cGW of power purchase agreements (PPAs) enabling access to energy at the lowest cost. RES employs more than 3,000 people and is active in 10 countries.
About Octopus Renewables
Octopus Renewables, part of Octopus Group, is a specialist clean energy investor and our mission is to accelerate the transition to a future powered by renewable energy. We have a diverse portfolio of assets with a capacity of over 2.6 GW, making us a leading European investor in onshore renewables. Octopus is also leading the next wave of renewables being built across Europe and Australia. We believe there is a significant opportunity to unblock much needed investment by building bespoke portfolios of renewable assets at scale, across technologies and countries, to create better outcomes for our investors.
CONTACT FOR FURTHER INFORMATION:
RES Press Office
+44 141 404 5560
+44 7500 937 925