The UK and Italy earmarked for anticipated growth —-Investment underpins Orenda claim for manufacturing ‘best in class’ financial return wind turbine system for investment
Livingston, Scotland; 25TH February 2015; An independent consortium of high net worth individuals from the United States has made a significant six figure investment to purchase a minimum of six 51kW medium wind turbines from Livingston-based small/medium wind specialist manufacturer Orenda Energy Solutions.
The investment, thought to be in excess of GBP 1 million, will see Orenda’s SKYE turbine installed at pre-determined locations across the United Kingdom, with the consortium expecting to achieve an aggregate rate of return of approximately 14% over a 20 year period through the UK Government Feed-in Tariff.
The investment will spearhead the process of procuring further investor-ready consented sites throughout the UK and on mainland Europe, where Orenda already has a strong foothold in the Italian small/medium wind market.
The company anticipates having ten sites available for investment in the UK and a similar number available in Italy by the middle of 2015.
The US consortium’s investment comes on the back of Orenda’s recently announced complete performance guarantee plus all risk insurance package, which includes loss of income. Moreover, Orenda has extended its current five year parts and labour warranty guarantee to seven years – incentives designed to maximise any return on investment and minimise investor risk.
Steve McMahon, VP Sales and Marketing, Orenda Energy Solutions commented;
“This is a quantum leap forward for Orenda. It shows great support and faith in our turbine and it establishes confirmation of one of our core value propositions – to provide ‘best in class’ financial return on investment in the small/medium wind turbine space.
Any major purchase of our product is welcome and it’s particularly striking that an American consortium looking for opportunities overseas has opted for Orenda Energy’s Skye turbine.”