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LAUNCH OF AIRVOLUTION ENERGY
Press release
LAUNCH OF AIRVOLUTION ENERGY
ESB Novus Modus, the cleantech and renewable energy fund, announces the creation of Airvolution Energy, a new venture that will develop, construct and operate small onshore wind projects in the UK. Airvolution Energy intends to be a major national player in an important part of the UK renewable energy sector.
Airvolution Energy will focus on sub -10 MW projects - generally operations with three or fewer turbines - as well as sites with embedded generation possibilities. Embedded wind generation provides the opportunity to lock in the cost of electricity over the long term, securing jobs and a better environment.
Airvolution Energy has an exclusive arrangement with Savills whose role will include identifying sites and managing the full planning permission process. PEP, specialists in wind energy, will provide Airvolution Energy with expert development and operational services. Airvolution Energy involves a multi-million investment by ESB Novus Modus and will be led by Kevin McNamara, a former Managing Director at ESB International.
Richard Nourse, Managing Partner of Novus Modus said: “Airvolution will allow businesses to maximise the opportunity for auto-generation and for exploitation of their wind and land resources with a well funded, expert developer. Our arrangement with Savills provides national coverage, depth of planning expertise, and good access to property.”
Speaking at the launch, the ESB Novus Modus Chairman, Bernard Byrne, explained that Airvolution Energy intends to become a major player in this niche renewable sector in Britain, suffering from the effects of the credit crunch. It will form strong partnerships with landlords, businesses and local communities as part of its operations.
“We expect Airvolution Energy to become the UK’s leading developer and operator of small wind projects within a relatively short timeframe,” Mr Byrne said.
Philip Gready, Director of Savills Energy, said: “Combining the wind development expertise and financial resources of ESB together with Savills’ access to property, its planning and land acquisition expertise will give renewed focus and necessary skill set to the sub - 10MW wind market. It will kick-start this sector and allow landlords to develop the full potential of their wind resource with a trusted partner.”
Airvolution will operate across the UK.
Web: www.airvolutionenergy.com
Email: info@airvolutionenergy.com
About ESB Novus Modus
ESB Novus Modus is a €200m clean-tech and renewable fund established in 2008 by ESB, Ireland’s premier utility company. Its aim is to provide capital, support and knowledge to companies, projects and management teams in the clean energy and energy efficiency sectors. Through its deep relationship with ESB, it has direct access to a wealth of technical knowledge and engineering and commercial expertise held by a leading national vertically integrated utility with an 80 year operating history.
About Savills
Savills is a major UK property and planning consultancy with a network of over 80 offices. Savills manages in excess of two million acres of land and has exceptional access to rural, commercial and industrial owners and occupiers of property. Savills has a leading planning and development resource with over 150 planners, 250 land and acquisition agents and a specialist infrastructure project management team.
About PEP
Established in 1989, Pure Energy Professionals Limited advises companies, investors and project developers in the renewable energy sector. The PEP team has extensive experience in the wind industry – working with prestigious clients on the development, construction, operation and acquisition of wind projects across the United Kingdom and a number of other countries.
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