Wind turbines are fascinating, complex pieces of machinery with many moving parts – and, as we know all too well, it only takes one small part to fall out of sync to cause significant disruption. But technical complexity is not the only challenge we face as asset managers.
At Exus, we manage over 4GW of wind, solar and hydro assets worldwide. We believe technical excellence and continuous innovation are paramount for operating renewable portfolios in the current environment.
We also believe that actively managing energy sales is a prerequisite for success as the global renewables market gains independence and transitions into a new phase.
As policymakers worldwide discuss post-pandemic stimulus packages to accelerate the sector’s growth and encourage a global ‘Green Recovery’, it is crucial that we ensure every dollar invested in renewables projects has an impact.
Maintaining a dual focus on technical optimisation and commercial management is how we will guarantee that impact in the new, open energy market.
Exus has seen further significant expansion in recent months, as we seek to bring this operating model to new markets worldwide. We launched in Italy in September, where we have 178MW of new projects under development supervision - specifically 63 MW in Spinazzola, province of Barletta & 115 MW in Cerignola, province of Foggia.
In Mexico we expanded our presence and successfully secured the asset management contract for 100 MW in Vientos del Altiplano, Zacatecas. This brings our total assets under management in the country to 700 MW.
Meanwhile, the US team has welcomed two new employees to keep up with growth in the US; be this through existing clients preparing for COD, onboarding new clients, or preparing for our first construction management contract.
The Exus North American offering is robust and we are already managing over 1.1GW of wind and solar assets across the United States (since signing a 160MW asset in Q3 2020 with an expected close in early Q4).
Furthermore, the US provides a great example of how a commitment to technical excellence needs to be matched by a strong grasp of energy market risks, and ongoing, proactive commercial management.
This has been evidenced by the fantastic work of our US commercial team, who have finalised an innovative Q4 2020 hedge that locks in Power and REC revenue at close to 100% budget. This eliminates all production and price risk in a time when both are extremely volatile and unpredictable.
Looking forwards, we are working on negotiating a long-term Power and REC hedge with a creditworthy counterparty to ultimately raise debt against the contracted cash flows and boost project returns.
We are excited about this ongoing growth, and to support the global energy transition by managing portfolios that are optimised to weather the technical and financial risks of an evolving market.
As always, we are keen to hear from you. If you have any queries or feedback, please don’t hesitate to get in touch.