News

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.”
 

Feb
04

VP of Orenda gives advice to farmers interested in wind energy

Posted By Sally on February 4, 2015 | 0 Comment | news

 

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: info@orendaenergy.com
 

Dec
11

Orenda sets renewables industry benchmark with ‘performance guarantee’ protection

Posted By Sally on December 11, 2014 | 0 Comment | news

medium scale wind turbines

 

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.