OPEN Opportunities in Envirotech Ltd (OPEN) and Aegis Power Plc. (Aegis) have proudly announced their collaboration in the finance, construction and operation of wind turbines in Northern Ireland.
March 2, 2014 (Newswire) - OPEN is a firm fully focused on the finance of renewable energy projects and cleantech companies, while Aegis' business strategy is to identify, develop, build, own and operate electricity generation plants throughout the UK.
Aegis and OPEN shall collaborate on the finance and construction of wind turbines with a capacity of 225-250 kW in mainland Great Britain and Northern Ireland. These Wind Turbines have an operational life of over 20 years. Aegis will manufacture the ACSA A27 and A29 at its facility in Northern Ireland. The turbines based on the Vestas V27 and V29 have a certificate of conformity from the Danish Wind Association. Vestas, one of the leading wind manufacturers worldwide, granted a sub-licence to use this design. There are over 2,000 of these Turbines in operation worldwide and with over 20 years of field operation, they have shown their pedigree and reliability.
Currently Northern Ireland offers one of the world's most attractive and secure government backed incentives for the operation of medium sized wind turbines of up to 250 kW in maximum generation capacity. The government incentivises the operation of this size of turbine by granting four (4) renewable energy obligation certificates (ROCs), or NIROCs as they are issued in Northern Ireland to a project for every megawatt hour (MWh) generated. In addition to the NIROCs/ROCs, the generator is paid for each unit of electricity (kWh) exported to the grid. This combination results in a sovereign backed revenue stream from the commercial operation date.
Aegis has agreed a power purchase agreement/ROC Purchase Agreement with Power NI, a large Utility. The electricity generated and ROCs will be sold to Power NI, for a period of 10 years which secures the revenue stream of the project.
OPEN Opportunities in Envirotech Ltd (OPEN) is a global visionary finance company that is offering a new way to invest in cleantech projects and business. Their professional network covers Europe, Asia, The Middle East and the Americas, with existing investment opportunities available.
Access to renewable energy and cleantech projects across the world are offered to a global community of investors, through a variety of financing structures.
OPEN brings together experts from various sectors, including global finance, energy, technology, business leadership, marketing and media. Investors, entrepreneurs and project owners benefit directly from a company established on the basis of insights into progressive investment strategies, renewable energy and cleantech trends. OPEN also provides access to a worldwide network of investment projects.
OPEN's mission is to create a global network of investment opportunities in order to accelerate the drive towards sustainable energy solutions for the planet. Focusing on cleantech and renewable energy projects of a very high calibre, OPEN identifies and commercialises innovation, bringing new energy solutions to market with investment, as well as a wide range of support services.
Aegis Power Plc. (Aegis) is a renewable energy project developer and power company operating in the renewable energy industry (wind, solar, hydro, biomass, pyrolysis, and energy from waste) and waste recycling. Aegis has extensive knowledge and experience in the power and waste sectors, through its strategic joint venture partnerships.
Aegis possesses significant knowledge of the renewable energy markets, clean technologies, fuel sources, project development, project finance, project delivery and operation.
Aegis is technology neutral and is focused on delivering optimal returns for stakeholders through the diversification of technology, development and jurisdictional risks using waste to energy (Pyrolysis), biomass, wind, and solar technologies.
Aegis aims to have a minimum of 500MW in its total pipeline within three years. The company currently have a pipeline of renewable energy projects at various stages of operation and development totalling 50MW.