Jan 10, 2019

REsurety passes 5GW in renewable energy risk mitigation contracts

Renewable Energy
Harry Menear
2 min
Transactions with energy giants have lead to REsurety surpassing 5GW of risk mitigation contracts
Boston-headquartered valuation analytics and risk management firm REsurety announced this week it had passed a critical corporate a...

Boston-headquartered valuation analytics and risk management firm REsurety announced this week it had passed a critical corporate and industry milestone, exceeding 5GW of risk management transactions.

A series of high-profile transactions in 2018 mark a migration of the combined risks of power market volatility and intermittent fuel sources, away from governments and utilities towards producers and end-consumers of clean energy. REsurety’s breakthrough tech solutions, deep expertise at the intersection of weather and power markets, and unrivaled databases and analytical systems are at the centre of understanding the value and risk of intermittent power generation.

In 2018, REsurety closed transactions with Microsoft, Enel Green Power North America, Engie, Orsted, Macquarie, and several other large international companies. "2018 has been a breakout year for REsurety and for the industry's adoption of risk management tools," said Lee Taylor, CEO of REsurety. "Our 5GW milestone shows the incredible demand for certainty when it comes to buying and selling renewables. Both project owners and their corporate off-takers are finding our risk mitigation products to be an accessible and cost-effective way to avoid revenue or cost volatility."

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"The wind industry has made great strides in driving down costs over the last decade," said Hannah Hunt, Deputy Director for Electricity Policy and Demand, American Wind Energy Association (AWEA). "More recently we have seen improvements in driving down soft costs and REsurety's approach of using weather and pricing data to reduce volatility risk is another great success story for the industry."

"Taking on and managing the risks associated with vPPAs has become a real hurdle for corporate purchasers of renewable energy," said Roberto Zanchi from Rocky Mountain Institute's Business Renewables Center. "The early success of risk mitigation contracts as a standard part of the procurement process sets a strong precedent for other companies who are similarly eager to achieve sustainability goals while mitigating financial risk exposure."

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May 13, 2021

All but two UK regions failing on school energy efficiency

schools
energyefficiency
Renewables
Dominic Ellis
2 min
Yorkshire & the Humber and the North East are the only UK regions where schools have collectively reduced how much they spend on energy per pupil

Most schools are still "treading water" on implementing energy efficient technology, according to new analysis of Government data from eLight.

Yorkshire & the Humber and the North East are the only regions where schools have collectively reduced how much they spend on energy per pupil, cutting expenditure by 4.4% and 0.9% respectively. Every other region of England increased its average energy expenditure per pupil, with schools in Inner London doing so by as much as 23.5%.

According to The Carbon Trust, energy bills in UK schools amount to £543 million per year, with 50% of a school’s total electricity cost being lighting. If every school in the UK implemented any type of energy efficient technology, over £100 million could be saved each year.

Harvey Sinclair, CEO of eEnergy, eLight’s parent company, said the figures demonstrate an uncomfortable truth for the education sector – namely that most schools are still treading water on the implementation of energy efficient technology. Energy efficiency could make a huge difference to meeting net zero ambitions, but most schools are still lagging behind.

“The solutions exist, but they are not being deployed fast enough," he said. "For example, we’ve made great progress in upgrading schools to energy-efficient LED lighting, but with 80% of schools yet to make the switch, there’s an enormous opportunity to make a collective reduction in carbon footprint and save a lot of money on energy bills. Our model means the entire project is financed, doesn’t require any upfront expenditure, and repayments are more than covered by the energy savings made."

He said while it has worked with over 300 schools, most are still far too slow to commit. "We are urging them to act with greater urgency because climate change won’t wait, and the need for action gets more pressing every year. The education sector has an important part to play in that and pupils around the country expect their schools to do so – there is still a huge job to be done."

North Yorkshire County Council is benefiting from the Public Sector Decarbonisation Scheme, which has so far awarded nearly £1bn for energy efficiency and heat decarbonisation projects around the country, and Craven schools has reportedly made a successful £2m bid (click here).

The Department for Education has issued 13 tips for reducing energy and water use in schools.

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