A private consortium of US investors have agreed a deal to buy at least 5 x 51kW wind turbines from Orenda Energy Solutions, the Livingston-based small-medium wind specialist manufacturer.
The contract, understood to be in excess of £1 million, will see Orenda’s SKYE turbine installed at pre-determined locations across the UK, with the consortium expecting to achieve an aggregate rate of return of approximately 14% over a 20 year period through the Feed-in Tariff.
The investment will spearhead the process of procuring further investor-ready consented sites throughout the UK and on mainland Europe, where Orenda already has a strong foothold in the Italian small-medium wind market.
The company anticipates having 10 sites available for investment in the UK and a similar number available in Italy by the middle of 2015.
Steve McMahon, VP Sales and Marketing, Orenda Energy Solutions, commented: “This is a quantum leap forward for Orenda. It shows great support and faith in our turbine and it establishes confirmation of one of our core value propositions – to provide ‘best in class’ financial return on investment in the small/medium wind turbine space.
The US consortium’s investment comes on the back of Orenda’s recently announced complete performance guarantee plus all risk insurance package, which includes loss of income. In addition, Orenda has extended its current five year parts and labour warranty guarantee to seven years.
Pixie Energy is an incubator and a facilitator of strategic research and project work, focusing on energy regulation, policy and markets at the local and national level. Find out more about Pixie Energy