Mar 3, 2021

Optilan wins Seagreen security and telecoms contract

Seagreen
Wind
UK
Dominic Ellis
2 min
Optilan will provide integrated telecoms and CCTV solutions, for offshore and onshore elements of the £3 billion Seagreen Wind Farm project
Optilan will provide integrated telecoms and CCTV solutions, for offshore and onshore elements of the £3 billion Seagreen Wind Farm project...

Optilan has been contracted to supply telecomms and security services for the £3 billion Seagreen Wind Farm project.

It will supply telecoms services, including the provision of integrated telecoms and CCTV solutions, for both the offshore and onshore elements of the wind farm project. The contract was awarded by Linxon, the joint venture between ABB and SNC-Lavalin, which are supporting Petrofac on the delivery of substations for the project.

The Seagreen offshore wind farm is situated approximately 90kms from the Angus coastline, in Scotland's outer Firth of Forth. On completion, the site will become one of the largest operating wind farms, with approximately 114 wind turbines.

Bill Bayliss, CEO of Optilan, said the project was won by its teams in the UK and Middle East. "Winning the tender boosts our engineering portfolio and allows us to showcase our ‘green’ capabilities once more," he said.

"As the world begins to ‘open up’ again this year, we hope to build on our recent successes. Renewable energy, as with all nascent technologies, brings with it challenges and evolving security risks that need to be addressed from the outset. We’re perfectly placed to help the industry combat and overcome these.”

With over 20 years’ experience in transmission and distribution in the UK, Optilan will bring in-depth knowledge and understanding of onshore substation design to this high-profile offshore wind project. Optilan is a global company with renowned expertise in delivering large scale projects in sectors such as energy, telecommunications, rail, pipeline monitoring systems and critical national infrastructure.

The offshore wind industry will be integral to the UK’s energy system by 2030, with the UK planning to generate 40GW from offshore wind farms within 10 years.

Optilan opened its Mumbai office in January, which aims to serve as an engineering hub for India and springboard for future growth in South Asia and the Middle East (click here). 

Share article

May 17, 2021

USS pension fund buys 50% stake in Bruc Energy

Pensionfunds
Investment
Renewables
spain
Dominic Ellis
3 min
USS will invest €225M in return for a 50% stake in Bruc Energy and 4,000MW pipeline of solar PV farms

The Universities Superannuation Scheme (USS) private pension fund has taken a 50% stake in Bruc Energy, a Spain and Portugal renewables-focussed investment vehicle created by OPTrust and Spanish businessman, Juan Béjar. 

In the transaction arranged by USS Investment Management, the wholly-owned subsidiary and principal investment manager and advisor to the Scheme, USS has invested €225M (c.£200m) in return for the stake in a major pipeline of 4,000MW of PV farms. Bruc Energy has an ambitious growth plan that goes beyond this to invest in other green energies, such as wind power.

USS, which announced two weeks ago its aim to be net zero by 2050, already has a strong relationship with both OPTrust and Juan Bejar through Globalvia, a specialist infrastructure platform focussed on managing rail and highways assets around the world. 

Spain’s sun-drenched climate and national target to reach 100% renewable-based generation by 2050 make it an attractive place to invest in solar energy. In addition, the decades long lifespan of solar PV panels make them well-suited to USS in helping pay members’ pensions long into the future.

USS Investment Management CEO, Simon Pilcher, said: “We are delighted to be committing further finance to renewables and particularly to a major Spanish solar platform like this. We have already invested or committed around £1 billion to renewable energy and demand for this will only increase as more and more countries transition to lower carbon. We know that our members care very much about climate change and ESG and we are convinced that USS playing its part in supporting the transition to a low carbon economy makes good financial sense, too. This announcement closely follows on from our stated ambition to become Net Zero by 2050 so this transaction and others like it will be a key plank of our strategy going forward.”

Gavin Merchant, Co-Head of Direct Equity, said: “We have worked alongside OPTrust and Juan Béjar for many years and are delighted to be making this investment. The long-term nature of solar and the steady returns make renewables attractive to a pension scheme needing to pay pensions for years to come.” 

OPTrust’s Morgan McCormick, Managing Director, Private Markets Group UK said: “We are excited to have USS join Bruc Energy building on our strong existing relationship. Their investment will help Bruc become one of the leading renewable energy platforms in Spain. At OPTrust, we believe that investing in renewable energy helps transitions the world to a more sustainable economy. In doing so, we can continue to deliver on our mission of paying pensions today and preserving pensions for tomorrow.”

Béjar said the partnership is a key step to establishing Bruc as one of the more dynamic players in the renewables industry in Spain, because it ensures access to the funds to develop our current portfolio. "All three shareholders of Bruc Energy share a long-term vision, but also the ambition and the social responsibility to counter the effects of climate change in the short-term," he said.

Following the transaction, which remains subject to conditions, including regulatory approval, Bruc Energy will be owned 50% by USS and BROP, a vehicle owned by OPTrust and Béjar. The transaction was advised by Royal Bank of Canada (RBC), Greenhill and Nomura. Juan Béjar will be the president of Bruc Energy and Luis Venero the CEO.

Share article