News Archive

Anesco and Ingenious Clean Energy power up new solar farm trio

Solar farm WEBAnesco has powered up three brand new solar farms in the past four weeks, all of which are set to be acquired by Ingenious Clean Energy Income Plc (“ICE Plc”), a renewable energy fund which is seeking to raise up to £180 million through an equity placing on the London Stock Exchange later this month.

Despite challenging weather conditions, Anesco was able to get all three sites connected, commissioned and in operation well ahead of the changes in ROCs due to take place at the end of March. Any solar plants connected from 1 April 2014 will receive 1.4 ROCs, compared to the current 1.6 ROCs standard.

The three sites are situated in Chewton Mendip in Somerset, Malmesbury in Gloucestershire, and Huntingdon in Cambridgeshire. They have a combined capacity of close to 25MW, which is enough to heat, light and power more than 7,500 homes.

Separately, ICE Plc intends to acquire its fourth solar farm within the next few weeks, which will have a capacity of 24.5 MW and is scheduled for connection to the grid by the end of March.

Adrian Pike, CEO of Anesco, commented: “Once again Anesco has delivered on time and safely. We recently experienced some of worst weather this country has seen in decades, so our approach to building assets throughout the autumn has paid dividends. It has allowed us to focus on 1.4 ROC projects, which are now commencing construction.”

He added: “These three sites put ICE Plc in a unique position. The fund will have a significant portion of its asset portfolio already operational from the day it launches, rather than relying on a pipeline of assets and projects that come on line sometime in the future.”

Anesco has developed over 125 MW of solar PV plants in the UK and has established itself as one of the principal solar PV developers in the country. Additionally, Anesco is the UK’s leading energy efficiency solutions company and works with businesses, local authorities, housing associations and homeowners looking to reduce their carbon emissions.

Sebastian Speight, MD of Ingenious Clean Energy, said: “Throughout the fund launch process, our number one objective has been to guarantee a high proportion of our asset portfolio is in operation from day one, so that we can benefit from the generation income right away and don’t delay to deliver returns to our investors. We have a long standing relationship with Anesco and are delighted with what the team has again delivered for us. With these farms up on the grid now, our fund will include commissioned sites with a combined capacity of 50MW (enough to power more than 15,000 homes around the UK) by the time we come to admission on the LSE.”

Commenting on the political environment, Sebastian Speight added: “The Government has responded to the success of its policies in building capacity in the sector by reducing the level of government support over time. We are supportive of the Government’s desire to provide a long term roadmap for this process and a clear transition to contracts for differences. We have seen that the Government’s sensitivity to investor certainty through “grandfathering” fixed levels of support to existing projects has improved investor confidence in supporting the much needed investment into our future electricity generating infrastructure. We hope that any announcement in respect of the carbon floor price in the forthcoming budget will similarly aim to ensure investors have a clear understanding of the long term regulatory environment.”

The Ingenious Group is an investment and advisory group which has raised over £8.5 billion in alternative investments since 1998. The Ingenious Clean Energy team was established in 2010 to enable Ingenious clients to invest in the renewable energy and energy efficiency sectors.

 

Anesco appoints energy services director

AdrianBarlow_Anesco FOR WEBAnesco has strengthened its senior team with the appointment of management heavy-weight Adrian Barlow as energy services director.

Reading-based Anesco works with businesses, local authorities, housing associations and homeowners looking to reduce their carbon emissions. The company was recently named the UK’s fastest growing private company and is recognised as one of the top 100 cleantech firms in the world.

As energy services director, Adrian will be responsible for developing and driving revenue for Anesco’s ESCO service, a key area for the business moving forward.

The ESCO model, already popular in the US and Europe, is an investor-funded route that enables organisations to improve the energy efficiency of their buildings without the need for capital outlay. The cost of the improvements is recouped by investors through sharing a percentage of the savings generated on energy bills.

Adrian joins Anesco having previously worked as director of assets and operations at SSE Telecom, where he was instrumental in the development and operations of the company’s commercial data centre, along with managing all aspects of the business operations. Adrian also worked for American telecoms giant Worldcom (now known as Verizon Business) delivering telecommunication projects all over the world.

Commenting on his appointment, Adrian said: “I’m delighted to join the team at Anesco. What the company has achieved, and continues to achieve, in the energy efficiency market is phenomenal. The culture at Anesco is also very positive and there is an entrepreneurial spirit which I like. It is developing in all areas and presents lots of opportunities, like the ESCO model, which has the potential to improve the energy efficiency of so many organisations. It’s great to be a part of it.”

Anesco CEO Adrian Pike said: “I have known Adrian for twenty years and his management experience and drive is second to none. The ESCO model continues to be a significant part of our business and Adrian will be tasked with developing and growing our offering.”

Anesco financial director up for industry award

Hedley Mayor WEBHedley Mayor, chief financial officer at leading energy efficiency solutions company Anesco, is in the running for a prestigious industry award.

Hedley has been shortlisted for financial director of the year in the large business category of the Business Finance Awards 2014. The awards recognise individuals, teams and businesses that have demonstrated success and innovation in the previous year.

Reading-based Anesco is a national company dedicated to helping homeowners, local authorities and businesses reduce their carbon emissions. The firm was recently named the UK’s fastest growing private company in the Sunday Times Virgin Fast Track 100 league table and is recognised as one of the top 100 cleantechs in the world.

Commenting on his nomination, Hedley Mayor said: “I’m delighted to be shortlisted for this award. It is a pleasure to be part of the management team at Anesco and to contribute to the ongoing success of the company.

“I joined Anesco as we have a shared vision and values. It is a relationship-driven firm that believes in trust and moral responsibility and these values are reflected in every part of our operations.”

Adrian Pike, CEO of Anesco, said: “Hedley’s vision, innovation and strategic thinking continue to see him playing a pivotal role in the ongoing growth and success of Anesco. His understanding of the needs of businesses and local authorities has helped us to create innovative ways of getting our services to market and as part of the senior management team Hedley has helped Anesco quickly become a leader in its field.”