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INNOVATION
February/March 2014 • www.esb.ie/em
ESB OWNED COMPANY, AIRVOLUTION, SECURES LONG TERM FINANCING DEAL WITH CAPITAL DYNAMICS
AIRVOLUTION ENERGY Limited, the small scale wind development company which is wholly owned by ESB's €200m investment fund, ESB Novus Modus, has secured investment funding for its immediate pipeline of onshore wind energy projects.
Agreements have been signed with Capital Dynamics, a global private asset manager, for the sale of the Company's first operating project, Ysgellog Farm in Anglesey (4.6MW), and for funding the construction costs of Airvoiution's immediate portfolio of six consented projects amounting to 30MW, plus the subsequent purchase of the built-out projects. Airvolution will manage the construction and operations of the projects to ensure continuity and a local presence
Richard Mardon, CEO of Airvolution, commented: “This is a major milestone for our young company and is vital for our build-out phase. With Banks remaining largely absent from the small-scale onshore wind sector, a long term funding partnership from a blue chip entity such as Capital Dynamics is an excellent achievement. This transaction is also testament to the quality of our consented projects and the strength and depth of our pipeline”.
John McSweeney, Head of Innovation ESB said: “Through ESB Novus Modus, ESB not only invests in high potential start-ups, but also provides a broad level of technical support and credibility to portfolio companies. Airvoiution's success in attracting finance to fund its pipeline of wind farm projects reflects this and also highlights the confidence that the market has placed in its strategy”.
ESB INTERNATIONAL PARTICIPATES IN TRADE AND INVESTMENT MISSION IN SAUDI ARABIA
ESB INTERNATIONAL
AN TAOISEACH Enda Kenny and Minister Richard Bruton TD led a trade and investment mission to Saudi Arabia Qatar and the United Arab Emirates in January. These Trade Missions provide Irish companies including ESB International with a great opportunity to strengthen existing customer relationships and explore new openings in the region.
John Quinn, Business Development and Commercial Manager Generation Engineering, ESB International addressed the trade mission, describing the challenges and opportunities facing ESB International in the Kingdom of Saudi Arabia. He also presented at the Saudi Irish Joint Business Council where he outlined ESB International's experience and capabilities within the energy industry. Donal Phelan, Head of Generation Engineering, ESB International also participated in the trade events.
Electric vehicle owners information meeting
AN INAUGURAL meeting of Electric vehicle owners (EV) was held by ESB at the Castleknock Hotel in Dublin. Over 60 ecar owners attended the information day and shared their electric vehicle driving experiences with other drivers as well as members of the ESB ecars team. The group from all over Ireland arrived in convoy from Blanchardstown.
Visit www.facebook.com/ESBecars to view photos from the event.
EV DRIVERS PILOTTHE CHARGE POINT MANAGEMENT SYSTEM
A NUMBER OF electric vehicle drivers were invited to pilot the charge point management system (CPMS) that is currently being developed by ESB. The CPMS which is accessed by a charge point access card, is an IT system which will help EV drivers to monitor, control and get real time information about the availability of the network of public charge points nationwide. It will enable customers to view their usage, update personal details and monitor their CO2 emissions savings and to deactivate or order new charge point access cards.
ESB is showcasing its leadership in the electric vehicle (EV) sector, as this system will be the first of its kind. In addition, the CPMS will allow potential issues relating to the charge point network to be remotely managed. Those piloting the system are providing real life user feedback, which will help in the development of a top class customer service for EV drivers.
An insight into G&WM
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