RES and Octopus Renewables strengthen bond with new asset management contracts

Four of the nine are new sites to the RES portfolio, while the other five will continue to be managed by RES after the successful retendering of the projects. Takeover of the four new sites: Cour, Beinneun, Grange and Hillhead of Auquhirie is complete, and work has already started to identify asset enhancements to make the sites as efficient as possible.

News of the wins comes after RES and Octopus Renewables struck a number of agreements during 2020, including a spares management contract, and a number of other support services contracts (asset management, operations and maintenance) encompassing 503MW of Octopus’ renewables assets.

The latest agreement means RES, the world’s largest independent renewable energy company, now delivers asset management services for over 130 wind, solar and storage assets in the UK and Ireland, with an installed clean energy capacity in excess of 2GW.

Darren Cook, Asset Management Director at RES, said: “Our ongoing partnership with Octopus Renewables has been very successful and we’re pleased to be able to continue and extend this relationship with the retention and acquisition of more sites. We’ve got the skills, expertise and knowledge to manage all technical and commercial elements of projects as well as monitor some of the world’s most critical assets, and we expect to see our portfolio continue to expand as RES leads the way in asset management.”

Thomas Rosser, Asset Management Director at Octopus Renewables said: “Over the last five and a half years, we’ve built a strong relationship with RES, having been impressed with the level of skill and knowledge across the team. This is demonstrated by the results we’ve seen with the asset management of some of our sites. Given these positive results, as well as our alignment of values and vision for the future of the energy industry, it seemed only natural to extend that relationship and pass on the asset management of a further four sites. We look forward to continuing to work alongside RES as we work together in accelerating a future powered by clean, affordable energy.”