4-6 october 2016 the nec, birmingham, uk · q & a scott burrows, managing director, eden...
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#celive #seuk @CleanEnergyLive cleanenergylive.co.uk
4-6 October 2016 The NEC, Birmingham, UK
#celive #seuk @CleanEnergyLive cleanenergylive.co.uk
EDEN Sustainable Group Scott Burrows, Managing Director
EDEN Sustainable Group Corporate deals – how has policy affected appetite?
• How are existing installations performing?
• Has the appetite for solar changed after subsidy
roll-backs for big corporates?
• Dos and Don’ts: what have we learnt so far?
Advice to the solar industry and energy buyers
• SOME INSIGHTS BASED ON MY EXPERIENCE
OUR Story Who we are. (‘The Green Version’) In the year 2000, Scott Burrows was in the low lying coral islands of Kiribati
in the Central Pacific, carrying out research into the threat of Climate Change. This had a profound effect and
his career in renewables began the following year. In 2012, whilst installing a ground mounted solar array at his
manor house, property and social entrepreneur Stephen Baker enlisted Scott’s help in running the North Devon
Transition, the movement towards sustainability.
Investment Management and Development. Soon thereafter, EDEN was founded as a platform to deliver a
sustainable carbon offset for Stephen’s specialist property company, Ventia Ltd, a Fastrack 100 company, in
conjunction with maximum financial returns. EDEN has grown and brought in specialist directors in markets
which include Biomass and Multinational Bluechip Solar. To date, private equity has been invested in both
biomass assets, solar farms, and commercial and industrial solar rooftop assets. Eden has vertically integrated
capabilities throughout the entire asset chain: development, EPC, funding, O & M. Eden has been shortlisted for
industry awards, and is currently investing in solar farms, solar rooftop and commercial biomass.
Growth Strategy and Investment Opportunities. EDEN is a multiple family office, and its growth strategy
includes leveraging existing assets, expanding the number of equity investors, increasing strategic
relationships with key banks, and the formation of EDEN Group Inheritance Tax Solution Fund. EDEN now has
significant capital available for both project acquisition and development, and a pipeline of around 105mW across all sectors. We believe this framework, combined with the focused and dedicated efforts of EDEN’s
management team, provides a winning combination and opportunities for the right kind of investor.
1. How are existing installations performing?
• As planned
• Portfolio Approach
• Internal Asset Management
• Case Study: 2.3mW of Operational Rooftop
430kW Academy
490kW Multinational
PARKWAY PRESTIGE
90kW
GATLEY GOLF CLUB
50Kw
HYDE FC 50kW
WILLINGHAM WAREHOUSE
165kW
BOWDON RUFC 50kW
MIDLAND VENTILATION
50kW
WILMSLOW RUFC 20kW
JANHILL CHARTER
40kW
SDB-SHEFFIELD 75kW
ASH MANUFACTURING
50kW
COALVILLE GLASS & GLAZING
40kW
XTRATHERM 490kW
SDB-BLACKPOOL 80kW
CARRIAGE AUTOS
40kW
WELLACRE ACADEMY
430kW
SMESTOW IND.ESTATE
80Kw
CASE STUDIES – A ROOFTOP SELECTION
WELLACRE ACADEMY
CAPACITY: 430 kW PRODUCTION: 368,000 kWh/y CO2 SAVED Y1: 209.09 tonnes CO2 SAVED Y25: 4,810 tonnes
SAVING S
YEAR 1
£21,193
£1,726,814
25 YEARS
Based on 11.75p/kWh unit rate of Non-solar electricity and 100% self-consumption of solar electricity
£0
£500,000
£1,000,000
£1,500,000
£2,000,000
£2,500,000
Y1 Y3 Y5 Y7 Y9 Y11 Y13 Y15 Y17 Y19 Y21 Y23 Y25
Savings
“One thing everyone knows is the price of electric will carry on going up, so fixing the price now is great for Wellacre movi ng
forward. I would recommend the Eden Group to anyone - it was absolutely no trouble to have them on site”
Mrs Christine Ellis, Business and Finance Director, Wellacre Academy.
£0
£200,000
£400,000
£600,000
£800,000
£1,000,000
£1,200,000
£1,400,000
Y1 Y3 Y5 Y7 Y9 Y11 Y13 Y15 Y17 Y19 Y21 Y23 Y25
Savings
XTRATHERM
3
CAPACITY: 490 kW PRODUCTION: 368,480 kWh/y CO2 SAVED Y1: 209.36 tonnes CO2 SAVED Y25: 4,817 tonnes
SAVING S
YEAR 1
£14,002
£1,231,606
25 YEARS
Based on 8.8p/kWh unit rate of Non-solar electricity and 100% self-consumption of solar electricity
2. Has the appetite for solar changed after
subsidy roll-backs for big corporates?
Answer is in the deal flow
UK
(Abroad)
In short, corporate drivers are:
Financial first,
Green second.
Answer is in the deal flow.
• What has changed for Eden?
• Until the FIT reductions of late 2015
• Directly and via channel partners
• Wide range of counterparty types across a range of
covenant strengths (Sports Club to Multinational)
Answer is in the deal flow.
• Now (deals originated both directly and via
developers) purely focusing on multiples of higher
covenant strength counter parties.
• Global pipeline 70mW and
• UK pipeline being 12mW (2 main corporates)
• UK Corporate:
• Major Public Transport Provider: 4mW roll out. Via
a Developer. Status: Legals/Continuation of roll out.
• What are the drivers for the corporate?
• One of the largest chains of Academies: 8mW roll
out. Directly Originated Deal. Status: Exclusivity
and Development Phase
• What are the drivers for the corporate?
3. Dos and Don’ts: what have we learnt so
far? Advice to the solar industry and energy
buyers
Solar Industry:
• Bankable Counterparty
• Corporate with long term view
• Chose your channel partners carefully
• Keep overheads low and remain flexible
• Speak directly to decision makers as soon as
possible in the process
3. Dos and Don’ts: what have we learnt so
far? Advice to the solar industry and energy
buyers
Energy Buyers:
• Don’t think short term
Sustainable Business
Sustainable Planet
• Be open to innovative Lease and License PPA
solutions
• Proven - look for real evidence the solar partner can
deliver
Q & A
Scott Burrows, Managing Director, Eden Sustainable Group
Eden Infrastructure, Eden Sustainable, Eden Biomass
+44 (0)7805 419448
+44 (0)203 4054896
www.edensustainable.co.uk