Orenda Energy secures £2m wind turbine deal from CanadEnergy

Wind turbine manufacturer Orenda Energy Solutions has secured a £2m contract for 10 of its 51KW Skye tilting tower wind turbines from Italian investment fund, CanadEnergy.

Orenda has presence in Ontario, Canada, Livingston and Scotland and the newly ordered turbines will be located in Scotland.

They will be build in a phased-wise manner over the next six to twelve months.

Orenda Energy is expected to provide necessary solutions such as developed sites, wind turbine systems, installation, commissioning and on-going operation and maintenance assistance for the programme.

CanadEnergy has formed a UK subsidiary company called Britannia Energy for carrying out the contract. The new company will own the developed sites.

CanadEnergy president Luca Roffi said: "Orenda’s turbine design and its ability to be folded down quickly for maintenance, struck our Board of Directors as practical steps to keep long term operating costs low.

"The business plan Orenda Energy presented to us met our demanding requirements, and the contract negotiations went well. We were pleased to have the opportunity to participate in Scotland’s renewable energy industry, despite the recent UK onshore wind Feed in Tariff changes."

The deal has already been executed by both the companies on three pre-consented sites. Two of the sites are located in Aberdeenshire and one in the Western Isles.

Another location will be selected by next year and Orenda Energy is still finalisig locations for other sites.

Orenda Energy Solutions sales and marketing VP Steve McMahon said: "Like many technology-based markets, the UK small-medium wind sector started with early adopters who wanted to own a wind turbine and potentially profit from this investment.

"Today, the UK market has evolved and customers are now seen as ‘pragmatic investors’ looking for complete ‘plug and play’ solutions. However, these investment opportunities must meet very stringent due diligence requirements and financial hurdle rates."

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