Orenda Energy to raise $25m to build windfarms in UK

18 August 2016 (Last Updated August 18th, 2016 18:30)

A global manufacturer of wind turbines Orenda Energy Solutions plans to raise $25m through US investment banks to construct its own distributed windfarms across the UK.

 

A global manufacturer of wind turbines Orenda Energy Solutions plans to raise $25m through US investment banks to construct its own distributed windfarms across the UK.

Orenda Energy Solutions' CEO Gerry Lalonde said: “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.

"Orenda Energy is finalising project financing to install 100 of its SKYE 49kW small turbines across the UK."

“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, but equally, it acts as a statement of intent for wind turbine manufacturers to show commitment to adapting to these FiT changes.”  

Currently, the company is finalising project financing to install 100 of SKYE 49kW small turbines across the UK to create a 4.9MW distributed windfarm.

The company has identified over 100 pre-qualified sites across the UK from Cornwall, Wales, Lancashire and throughout Scotland, stretching up to the Western Isles. Orenda Energy also operates in Ontario and Canada.


Image:Orenda Energy plans to raise $25m. Photo: Courtesy of Orenda Energy Solutions.