News

Aug
25

Orenda Energy reveals plans to raise $25million USD to create 100 turbine UK Wind Farm

Posted By Sally on August 25, 2016 | 0 Comment | news

medium wind

 
 
ORENDA ENERGY REVEALS PLANS TO RAISE US$25 MILLION TO CREATE 100 TURBINE UK WIND FARM
 
 

Livingston, West Lothian, Scotland – Thursday 18th August 2016; Wind turbine manufacturer Orenda Energy Solutions, which has locations in Ontario, Canada and Livingston, Scotland, is seeking to raise US$25million through a series of US investment banks as it embarks on a programme of expansion to build its own distributed wind farm across the UK.

 

Orenda is currently finalizing the project financing which will see one hundred of its own manufactured SKYE 49kW small wind turbines installed across the UK from Cornwall to the Scottish Highlands to create a 4.9 MW (megawatt) distributed wind farm.

 

The creation of Orenda’s wind farm signifies a remarkable milestone for the company.  In its short four-year history, it will have progressed from being solely a turbine manufacturer to site developer to soon owning and managing a sizeable wind farm in the UK.

 

As Gerry Lalonde, CEO, Orenda Energy Solutions reveals, despite the changes made to the FiT (Feed-In-Tariff) program earlier this year, by leveraging the unique wind technology of its 49kw turbine, it is still possible to earn adequate financial returns in this market, particularly if one operates in the sub 50kw FiT band which provides the highest FiT rates.

 

“Positioning is the key for us. The announcement from the DECC consultation to change the FiT system was not warmly received by the small wind industry overall, but we view it as an opportunity for Orenda as a result of a willingness to adapt our own technology.

 

“We were able to modify the patent-pending control technology on our SKYE turbine to reduce the power output from a 51kW turbine to 49kW.

 

“This minor modification allows us to position our wind turbine at the top end of the most attractive band available in the UK for the current FiT system.

 

Indeed, it is likely that Orenda Skye 49kw turbine may be the only model available at the top end of this lucrative FiT band.  We will know for certain once its MCS certification has been completed in late summer. Obtaining MCS certification is expensive and time consuming and acts as a significant barrier to entry which in turn helps to sort the wheat from the chaff

 

Orenda claims it has already identified over 100 pre-qualified UK sites stretching across the UK from Cornwall, Wales, Lancashire and throughout Scotland, stretching up to the Western Isles.

 

Gerry Lalonde adds;

 

“Orenda Energy, has, in the last year, gone from being a wind turbine manufacturer and site developer, to raising a multi-million Dollar investment for our own 100 turbine-strong distributed wind farm.

 

There has been a general consensus that the UK market has become harder for small-medium wind turbine suppliers, but by adapting and evolving our proposition, we see far-reaching advantages and believe that this type of investment is crucial for the sector to secure its long term future.”

 

 

 

Ends

 

About Orenda Energy Solutions:

Orenda Energy Solutions is an investor, site developer and manufacturer of a fully integrated wind turbine system for the rural segment of the small distributed wind industry. Orenda’s 49kW Skye™ wind turbine is the solution of choice for farmers, large acreage landowners, and wind park developers and investors

 

See more at: www.orendaenergy.com

 

Press Enquiries –

Kevin Dorrian

Acumen

Tel – 0131 661 7027

E- kevin.dorrian@acumen-pr.com

T- @acumenpr

 

Feb
25

Orenda Energy – Local farmers urged ‘pledge a field to reap a financial windfall’

Posted By Sally on February 25, 2016 | 0 Comment | news

medium wind

 

 LOCAL FARMERS URGED ‘PLEDGE A FIELD TO REAP A FINANCIAL WINDFALL’

 

·         Opportunities for local farmers to secure several thousands of pounds per annum by making a field available for small scale wind investment

·         Farm usage is seen as crucial to delivering return on investment and fixed price, low cost green electricity for farmers.

 

Livingston, West Lothian – Wednesday 24th February 2016:

Farmers across Scotland who may have witnessed a fall in income due to the recent spate of bad weather, can now add up to several thousands of pounds a year to their incomes. They need do nothing more than offer a field or small piece of land then watch their finances grow.
 

Scotlandremains an attractive proposition for inward investment in the country’s small wind energy industry and there are farming communities across the country bringing in extra income from this enterprising initiative as many farmers look beyond their traditional arable, livestock and dairy revenue streams.

 

Farmers need to maximise land use andScotland, with its abundance of rural farming communities, has the perfect topography for small-scale wind energy with its very healthy wind regime.

 

And with a ‘per-turbine’ windfall of anything between £1,500 and £2,000 per annum index linked for 20 years up for grabs, it makes good economic sense for farmers to lease a small piece of their land for small wind turbine investors, more so as the vagaries of the Scottish climate with occasional poor harvests, unusually harsh weather and dramatically rising energy costs can take their toll on a cash-strapped farming and rural economy.

 

So, for any farmer, this is a win/win situation. In addition to the rental for doing nothing more than pledging use of a field – and with no loss of use of the land at all- the farmer can make use of the green energy produced on-site by any wind turbine.

 

This significantly drops their overall energy costs and safeguards them against future energy price. Moreover, the farmer can, if he wishes, be ‘locked in’ to a 20-year low cost green electricity deal.

 

Steve McMahon, VP Sales & Marketing, Orenda Energy Solutions, the Livingston-based turbine manufacturer for the small/medium distributed wind industry commented;

 

“Despite this widespread belief that almost every farmer in the land has turned to renewable wind energy, the reality is that only a very small percentage of Scottish farms utilise wind energy and the cash revenue it generates.”

 

Many believe the renewable market is largely dead given the drastic Feed in Tariff (FiT) reductions. That might be the case for larger turbines, but the small wind energy market remains buoyant.

 

Steve McMahon added;

 

“The only tariff that makes economic sense for farmers is in the sub-50kW band – which is still attracting mainstream investment funds even with the drastic FiT reductions. We are already working with two major international investment funds and canny farmers in Scotland who want to make good money by simply letting a field for these small wind turbines, will reap large financial benefits.

 

Therefore, what might appear to be land that is not ideal for a wide variety of farming uses could be perfect for wind power. More farmers should be taking advantage of this at small/medium wind turbine level. We’re not talking large utility grade wind turbines like you see in wind farms; these are small structures with towers no more than 30m high.”

 

More details are available at www.orendaenergy.com

 

Ends

 

About Orenda Energy Solutions:

 

Orenda Energy Solutions designs and manufactures fully integrated wind turbine systems for the rural segment of the small distributed wind industry. Orenda’s 51kW Skye™ wind turbine is the solution of choice for farmers, large acreage landowners, and wind park developers and investors.

 

Press Enquiries:

For further information, please contact Kevin Dorrian at Acumen on 0131 661 7027 or email – Kevin.dorrian@acumen-pr.com.

Twitter – @acumenpr

Nov
17

Orenda Energy secures £2 million wind turbine investment deal

Posted By Sally on November 17, 2015 | 0 Comment | news

medium wind

 
Livingston, West Lothian, Scotland; 17th November 2015; Orenda Energy Solutions Limited, a turbine manufacturer for the global medium distributed wind industry with locations in Ontario, Canada and Livingston, Scotland, has secured a £2 million deal for ten of its 51kW Skye ‘tilting tower’ wind turbines with privately-owned Italian investment fund, CanadEnergy.
 
The turbines will be located in Scotland and built out in a phased programme over the next six – twelve months, with Orenda Energy Solutions providing a complete turnkey solution including the developed sites, the wind turbine systems, installation, commissioning and on-going operation and maintenance.
 
For this contract CanadEnergy has created a UK subsidiary company, Britannia Energy who will own the developed sites.
 
Whilst this is the first venture into the UK wind energy market, CanadEnergy has set its sights on actively expanding its projects pipeline across Europe and Canada, adding to a wide ‘green energy’ long term investments program. It already has a number of wind energy projects under development in Canada.
 
Luca Roffi, President of CanadEnergy explains;
 
“Orenda’s turbine design and its ability to be folded down quickly for maintenance, struck our Board of Directors as practical steps to keep long term operating costs low. The business plan Orenda Energy presented to us met our demanding requirements, and the contract negotiations went well. We were pleased to have the opportunity to participate in Scotland’s renewable energy industry, despite the recent UK onshore wind Feed in Tariff changes”.

 

The CanadEnergy fund is advised by PentaEnergon, an Italian specialist in identifying, selecting and structuring Renewable Energy Source schemes.
 
Its Director Enrico Montangero comments;
 
“Our investors look for project returns that are substantially guaranteed for the life of the equipment and are in countries with a stable, long-term outlook. Equally, Scotland has excellent wind resources and benefits from an infrastructure that recognises the potential and importance of its natural environment. Operating in the UK and specifically Scotland will be of significant benefit to CanadEnergy.”
 
For Orenda Energy Solutions, Steve McMahon, VP Sales & Marketing, added;
 
“Like many technology-based markets, the UK small-medium wind sector started with early adopters who wanted to own a wind turbine and potentially profit from this investment. Today, the UK market has evolved and customers are now seen as ‘pragmatic investors’ looking for complete ‘plug and play’ solutions. However, these investment opportunities must meet very stringent due diligence requirements and financial hurdle rates.

 

“Orenda Energy recognises this market dynamic and we therefore developed a strategy to become a site developer as well as a wind turbine manufacturer so we are now in a position to serve this very demanding class of customer with a full turnkey and investible proposition and securing this deal with CanadEnergy fully underlines that we have strong validation in terms of our Skye wind turbine, our company and our far-reaching vision.”

 

There is consensus that the UK market has become harder for small-medium wind turbine suppliers and many believe that the flexibility of this type of investment is crucial for the sector to secure its long term future, especially considering what the immediate future may hold following proposed Government cuts in FiT from January 2016.
 
Gerry Lalonde, CEO of Orenda Energy Solutions, claims that the purchase of the turbines is a sound proposition in terms of the Return on Investment for CanadEnergy and further broadens the scope of Orenda’s growing appeal and attractiveness.
 
He adds;
 
“By brokering such cohesive partnerships such as this one, we are strengthening our involvement as the small/medium wind turbine manufacturer which consistently delivers the returns investors are looking for.
 
If you add in complete performance guarantee, plus an all risk insurance package including loss of income, we are simply demonstrating our belief in this as a ‘win-win’ investment.”
 
Orenda Energy was advised by Dundee-headquartered, DC Consulting, one of Scotland’s leading independent corporate finance firms which specialises in sourcing emerging technology companies for investors.
 
Angus Hay, Director at DC Consulting commented;
 
“We are delighted to have supported Orenda in delivering a funding solution to assist with the role out of their innovative wind turbine products into the UK market.  DC Consulting has a proven track record of supporting young and ambitious companies in delivering tailored funding solutions particularly in the Energy Renewable sector.”
 
Work on the contract starts immediately, with preliminary excavation and developmental work commencing at three pre-consented sites – two in Aberdeenshire and one in the Western Isles – with other locations set to come on stream at the beginning of next year.
 
Other sites have been identified by Orenda Energy and are at various stages of the planning process.

 

Ends
 
About Orenda Energy Solutions:
 
Orenda Energy Solutions designs and manufactures fully integrated wind turbine systems for the rural segment of the small distributed wind industry. Orenda’s 51kW Skye™ wind turbine is the solution of choice for farmers, large acreage landowners, and wind park developers and investors.
 
See more at: www.orendaenergy.com

 

Press Enquiries –

Kevin Dorrian

Acumen

Tel – 0131 661 7027

E- kevin.dorrian@acumen-pr.com

T- @acumenpr

Apr
06

Orenda Energy enters into licensing agreement with Eocycle Technologies Inc.

Posted By Sally on April 6, 2015 | 0 Comment | news

licensing agreement with Eocycle

 

The first time Orenda has entered into a technology licensing agreement with another turbine manufacturer since the company was established in 2012.

 
Iroquois, Ontario, Canada Wednesday 1st April 2015 – Orenda Energy Solutions, the Iroquois-based turbine manufacturer for the global medium distributed wind industry, has announced that it has licensed its proprietary tilting tower technology to a fellow Montreal–based wind turbine company, Eocycle Technologies Inc.
 
Eocycle Technologies manufactures an innovative 25kW direct-drive wind turbine for those involved in areas such as agricultural, business and requiring rural electrification in remote regions worldwide.
 
This is the first time Orenda has entered into a technology licensing agreement with another turbine manufacturer since the company was established in 2012.
 
The technology being licensed to Eocycle was initially designed for Orenda’s Skye™ 51kW medium wind turbine. This utilizes a patented, multi-pivot point technology – a hydraulically operated hinged tilting’ tower, which allows for large nacelles to be raised and lowered to heights of up to 36m and thereby reduces installation and servicing costs – it means servicing is done at ground level and does not need expensive crane hire.
 
Even although Eocycle 25kW turbine requires low maintenance this means that future Eocycle customers can protect their asset by lowering and securing it whenever there is maintenance required or in advance of an approaching storm.
 
Orenda CEO Gerry Lalonde stated, “We are delighted with this validation of our technology and business approach that entering into this agreement gives us.
 
“Orenda’s success in closing this deal, which we envisage being the first of many, was based on Eocycle’s requirement to look beyond its current turbine design and integrate our patented technology which is completely unique in the renewables industry across any size or scale of wind turbine.”
 
For Eocycle Technologies Inc., its Chief Executive Richard Legault comments;
 
“The integration of Orenda’s technology into our 25kW wind turbine is exciting and offers the significant installation and cost reductions the distributed wind industry is looking for.
 
“Like Orenda, we are a pioneering wind energy company and by licensing Orenda’s technology, we pave the way for this partnership to flourish.
 
“Here are two companies, headquartered in the Montreal area, showing the small and medium wind energy industry that we are both innovators and pioneers in what we bring to the marketplace.
 
“Small and medium wind turbines are a lifeline for rural economies such as geographically dispersed farming communities. By licensing Orenda’s technology, Eocycle is providing its customer base with the most versatile small wind turbine solution in its class.”

 

Mar
09

AMERICAN CONSORTIUM MAKES SIGNIFICANT PURCHASE OF ORENDA 51kW TURBINES

Posted By Sally on March 9, 2015 | 0 Comment | news

 

 medium scale wind turbines

 

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.”