Sally on March 9, 2015 | 0 Comment
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.”
Sally on February 4, 2015 | 0 Comment
Steve McMahon, VP of Sales and Marketing at Orenda, has an article published in Farmers Guardian where he gives solid advice to farmers interested in wind energy projects.
Here are Steve’s top tips:
When considering embarking on a wind turbine project:
- Firstly, be clear as to the motivation for the project – whether this is purely an investment, part of a programme to reduce carbon footprint, for long-term electricity supply pricing or a mix of all the above – this will help drive the size of the wind turbine and the financial returns one requires
- Get a good handle on what the wind resource is on your farm, and a macro picture can be established fairly easily using a database. Micro-siting is critical to ensure the turbine has an unrestricted access to the prevailing wind and without obstacles close to the turbine likely to cause material levels of turbulence
- Find a good installing dealer to work with as a partner. There are many, so get references from them and talk directly to their previous customers
- Finally, be patient – installing a wind turbine is a major project and will take significant time from start to finish, but done properly is well worth the wait
Want more information and tips on wind energy investments? Contact us now: firstname.lastname@example.org
Sally on December 11, 2014 | 0 Comment
Performance Guarantee just one of a raft of new initiatives offering ‘peace of mind’ to farming and rural communities
Livingston, Scotland 10th December 2014; In a move that radically shifts the risk profile of wind investments in the UK, Orenda Energy Solutions, the designer and manufacturer of the pioneering Skye 51kW small/medium ‘tilting tower’ wind turbine, is to offer a package of ‘peace of mind’ measures to investors and the farming and rural community for its ground-breaking 51kW turbine.
Central to these offerings is a complete performance guarantee against its published Annual Energy Production (AEP), plus all-risk insurance – including loss of income. Orenda is also extending its current five year parts and labour warranty guarantee to seven years – measures designed to maximise return on investment in the face of reduced FiT payments.
This enables Orenda to completely guarantee the operational performance of the turbine on an annual basis, and for the full duration of the seven year warranty program. Orenda is confident the turbine will produce no less than 95% of its published AEP and should there be any shortfall, will reimburse this directly to the user.
Whilst small and medium wind energy is crucial to farming, private landowners and domestic rural communities, future installers and end customers will now have a robust package of strong incentives, which are unparalleled as a package in the small medium wind sector and have been introduced at a time when the reduction in FiT tariff levels brings a further challenge to the hard pressed rural economy.
Steve McMahon, VP Sales and Marketing Orenda Energy Solutions commented;
“There are many technological innovations integrated into Orenda’s Skye 51kW turbine and giving assurances and performance guarantee criteria as significant fail-safe benefits to the customer, is, I believe, the most detailed and robust offering of its kind to the UK’s farming and rural communities.
Small and medium wind turbines are a lifeline for Britain’s rural economy however there is a job still to be done to bring a majority of these communities to embrace renewable energy.
Many have said they would be keen to do so, but with so much hesitancy regarding return on investment (ROI) over an extended period, some may be reluctant to incur more capital expenditure. Our new package of incentives should go some way to give them peace of mind and help them realise the financial returns a small or medium wind turbine can achieve for them, backed by a raft of pioneering ‘peace of mind’ measures.”
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.
Sally on November 21, 2014 | 0 Comment
Steve McMahon, VP of Sales and Marketing for Orenda is featured in the Power Energy Solutions (PES) publication called ‘The Big Debate’.
What is ‘The Big Debate’? Well, as PES puts it, ‘The wind industry is constantly evolving and new ideas and innovations are a welcome source of change and regeneration. We asked five pioneers in the field – from five diverging sectors – to give us their views on where we’re headed and how they are helping to encourage the evolution of an industry.’
Here’s are a couple snippets from the latest issue:
PES: Similarly, has there been enough progression in complimentary technologies such as smart meters, storage, grids, etc.?
Steve McMahon: There are several key challenges that wind power needs to address: The vast majority of the world’s land mass does NOT experience winds greater than 5m/s (average annual wind speed at >10m). The current technology that all horizontal axis wind turbines are based on does NOT operate effectively in these low wind regions. Therefore there needs to be a focus in R&D on designing wind turbines that can produce electricity efficiently in these low wind regions of the world.
This is particularly important when one considers that 25% or one quarter of the world’s population are without any electricity at all! This is the ultimate target market for small-medium scale wind energy, where there is real pain. A very small percentage of these regions experience what we would regard as decent wind for wind turbines to operate efficiently.
Linked to the point above concerning low wind technology, there is a growing need for hybrid renewable energy solutions, combining different types of renewable energy generation e.g. wind and solar PV in conjunction with efficient and practical storage technologies. Hybrid solutions are being deployed today. However, they are largely bespoke (custom) one –off solutions designed specifically for each individual application which results in high cost, low quality and hard to maintain solutions.
There needs to be a focus within the renewable industries to encourage partnering between companies who are expert in their own specific space, be it wind, solar, storage, power electronics etc. to develop true plug and play hybrid solutions.
PES: Year upon year, turbines are increasing in size. Would you agree that we perhaps need smarter turbines instead?
Steve McMahon: In short – yes! The transition towards larger and larger was driven by the returns available via the UK FiT program. The problem is that it is becoming tougher and tougher to find sites for the larger turbines due to tip height and grid constraints. This incentive led market is artificial to some extent and certainly time limited. To meet the longer term requirements in a sustainable “real” market for off-grid solutions we will certainly require “smarter” turbine systems including better low wind performance, efficient storage capabilities and off the shelf hybrid solutions incorporating wind, solar, storage etc.
Want to read the whole thing? Check it out on our resources page!