UK energy sector up for grabs in 2008 with government wind farm
tender
As environmental protection takes greater importance in all
commercial activity, Raiffeisen Leasing of Austria is seizing
opportunities by providing specialised services for projects in the
renewable energy sector.
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Meanwhile, the financier is also taking initiatives to
contribute towards carbon emissions reduction in various
projects.
Among them is the energy efficient retrofit of existing
community facilities, notably the refurbishment of a secondary
school in Oberwart, Austria. Put simply, old buildings are
refurbished to become less polluting structures.
Raiffeisen Leasing, with recycling specialist WRS Energie &
Unternehmenslösungen GmbH as partner, emerged as the successful
bidder in a public tender to finance and implement the measures
planned.
The range of services provided included a guarantee for the
investment cost, and an energy-savings guarantee of €17,520 per
year. Assuming a useful economic life of 30 years, this corresponds
to cost-savings of €525,600 and a 3, 210 tonne reduction in CO2
emissions.
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By GlobalDataRaiffeisen’s niche in consulting and financing services of
renewable energy is captured through its wholly-owned subsidiary,
Raiffeisen Energy & Environment (REE).
Through partnership with project developers REE acquires, develops
and operates renewable energy projects.
Raiffeisen Leasing claims to have invested some €1bn in leasing
deals in the wind farm sector in Germany, Italy, the Czech
Republic, Croatia and Bulgaria. It does not lease farms in Austria
because of hostile tax laws in the country. Each wind farm project
as an approximate average value of €100m.
It has also leased wood burning plants to provide cleaner energy
in residential homes in three municipalities in Slovakia. The large
scheme makes use of local government funding, and replaces existing
coal fuel systems installed during the Communist era. It has also
financed the transfer of cars from petrol to biofuel.
With experience in wind energy projects in Europe, the UK’s
launch of the third round of offshore windfarm development may well
be of interest to REE.
This month, the Crown Estate is expected to announce the
competitive process and commercial terms of the lease agreements
which will govern the use of the UK’s seabed to develop
windfarms.
The plan, which is still under assessment by the Department for
Business Enterprise and Regulatory Reform (BERR), is for the UK to
develop capacity of 25GW of wind energy. This could potentially
meet some 40 per cent of the UK’s energy requirements, according to
estimates from the British Wind Energy Association (BWEA).
Statistics from the BWEA show that currently there are 156
windfarms operating 1,902 wind turbines which fulfil about 1.5 per
cent of the UK’s energy consumption.
The third round bid is expected to attract submissions from
international energy companies and specialists from across the
European Union. Still, it will be some 24 months before private
developers actually begin site exploration.
Pull out quote: Assuming a useful economic life of 30 years, this
corresponds to cost-savings of €525,600 and a 3, 210 tonne
reduction in CO2 emissions
