Renewco Power, 3 years on!

Last month, we continued our annual All Team get togethers’ with this year being held in the fantastic city of Madrid.

While we managed to find some much-needed downtime to bond as a team over the city’s beautiful sights and world-renowned tapas, it also gave us a welcome opportunity to reflect on the impressive growth of Renewco Power since its inception 3 years ago and discuss the exciting plans we have in store for the year ahead.

What was clear throughout the week is that we are all proud of Renewco’s achievements to date. We bond well as a team and trust each other’s abilities to deliver our mission of developing high quality renewable energy projects across our key markets. We are confident these projects will accelerate the deployment of clean energy, enabling countries to decarbonise their power systems.

It’s been another fantastic year for the business. Here are the main highlights we have achieved over the last 12 months,

-        We now have a 6GW development pipeline across our 4 key markets and 4 key technologies which we will continue to advance to the ready to build stage.

-        We submitted a hat-trick of planning applications in Scotland including Glenniston (Solar), Milton (Storage) and M74 West (wind, solar and storage technologies) which all have the potential to play a significant role in helping the Scottish and UK governments meet their emissions reduction and net zero commitments. Glenniston was also successful in the recent UK CFD round and is in the final steps of the ready to build stage.

-        We have assembled a highly capable and experienced US greenfield team, led by Chief Development Officer, Michael Bowring, to develop a 5 GW pipeline of solar and storage in the US.

-        We completed the recruitment of a strong greenfield development team in Italy, led by Federico Nucita in Italy where Renewco’s goal is to develop, by 2028, a capacity of 1 GW between PV and BESS. Progress towards this goal was accelerated in September with the acquisition of a late stage solar project pipeline of 120 MW in Southern Italy from a local developer.

-        Alongside INDHO, a pioneering green hydrogen developer based in Ciudad Real in central Spain, we announced the launch of Indhyco. This exciting joint venture will be a new development platform exclusively focused on green hydrogen projects throughout the Spanish market. Indhyco’s goal is to develop 1 GW of green hydrogen projects to the ready to build stage within five years.

-        Our team has now grown to 50 people across our offices in the UK, Spain, Italy and the US, with 15 new team members joining in the last 12 months alone.

We have made significant progress over the last 12 months and are determined to close the year on a high, continuing our work in bringing our existing development pipeline to the ready to build stage across all our key markets and technologies.