Energy supplier OVO Energy has unveiled plans to launch a new business unit that focuses on generating renewable energy.
The proposed new arm, called OVO -renewable energy sources, is planning to buy onshore wind farms that reach the middle to the late stages of their lifespan, before they are shepherfully using modern technology to extend their lifespan. OVO Renewables states that this will help to bring more green energy to customers faster by reducing the time required for infrastructure planning.
OVO Energy states that OVO -renewable energy sources will be launched with an initial investment of “hundreds of millions of pounds”. The first phase of the shredded rollout of OVO Renewable has been established to deliver extra capacity up to 500 MW for the aim of the British government to have a total of 30 GW onshore wind capacity operational by 2030.
A number of other companies will support the launch of OVO renewable energy sources. OVO states that sister company Kaluza, which develops energy technology platforms, will support the rollout of OVO -renewable energy sources, whereby cooperation may be used in the future to offer green energy directly to nearby communities. Kaluza and OVO Energy have previously worked together at Home EV charging initiatives, including integrations with Volkswagen Group UK And Volvo.
In addition, OVO -renewable energy sources, depending on the approvals of the regulations, are planning to collaborate with investors of Renewable Energy NextLife Energy to find onshore wind projects, to acquire, manage and redevelop.
David Buttress, CEO of OVO, said that the new arm “offers a huge opportunity to unlock more clean, safe energy, without the delays that are accompanied by building new locations”. He added: “Great -Britain has built some of the world’s first onshore wind farms, but many are now quickly older. Ovo Renewables has the potential to breathe in the Green Power Infrastructure of Great Britain, so that customers and communities offer real benefits”.
Energy Minister Michael Shanks, who previously held the keynote speech on Solar Media’s Clean Power 2030 Summits, called the new company “enormously exciting”, and noted that “existing wind farms will be an important part of how we create a cheaper, safer, safer energy system, create jobs throughout the country” “”
OVO Energy has previously worked to encourage its customers to install their own capacity of solar generation at home. At the end of last year, the utility announced that it had worked together With Bank Major HSBC To roll out a series of new financing options, so that a wider range of homeowners can be installed on the solar PV on the roof and energy storage systems for home batteries.
