Seeking Outstanding Returns Through Investments in Sustainability

What We Do

PostScriptum is an investment group with a broad portfolio of sustainable investments. Established in 2006, PostScriptum and its subsidiaries have been among the global pioneers in the energy transition, investing in wind and solar energy, biomass, storage, energy efficiency, hydrogen, and sustainable building materials. PostScriptum Energy holds investments in large-scale renewables, while PostScriptum Ventures invests in innovative technology and disruptive business models. We invest in the following areas:
Large Scale Renewable Energy
Energy Storage
Distributed / Off-grid Generation
Energy Efficiency
IT & Digitalization
Resource Efficiency and Recycling
Although Postscriptum is an investment group, our goal is to always find opportunities where we can add management value and where our expertise can leverage the financial contributions we make. We help our portfolio companies reach new markets, develop innovative business models and improve product offerings. We aim to deliver outstanding results to our shareholders and create maximum positive impact for all stakeholders, the environment and society at large. Our appetite is not yet satisfied so if you are developing a sustainable and innovative solution to an energy-related problem we would love to hear from you.

Large Scale Renewable Energy

The unstoppable convergence of socio-economic factors is currently disrupting the largest global industry, which has been unchanged for the last 100 years. The falling cost of large-scale renewable energy generation and an impulse for sustainability are transforming the global energy ecosystem.

Renewable energy installations around the globe surpassed conventional sources for the first time in 2015. Since then global renewable energy installed generation capacity has increased by more than 160 GW per year. Following technological advances, wind and solar are becoming increasingly attractive in terms of costs, and saw significant growth in the last decade.

Latest data confirms that the energy revolution continues to move forward at a fast pace, with prices falling further and governments setting new and more ambitious renewable energy targets. The industry has matured and is now key to supporting economic growth, job creation, emissions reduction, energy access expansion, air pollution prevention, and energy security provision.

Energy Storage

Investment in new technologies and the cost reduction of batteries is happening on a massive scale.

The key driver here is the ability of energy storage to charge and dischargе electricity —a first for the industry—providing benefits for customers and the grid. 2017 saw storage prices falling and momentum building across all sectors (residental, commercial & industrial and utility). Electrochemical batteries, such as lithium-ion, are fast and accurate, when coupled with control systems. Of course, there are yet many technicalities that have to be resolved and fine-tuned, but a wide range of storage application is currently being tested and developed. Examples include storage for shaving peak demand, stand-alone batteries as grid assets, smoothing out renewables’ intermittency, aggregated mobile storage (electric vehicles), microgrids. This development is opening many new opportunities and creating new business models.

Distributed / Off-grid Generation

Employment of emerging renewable energy and storage technological advances leads to innovative approaches, such as the application of small-scale decentralized and off-grid generation. Distributed generation refers to a variety of technologies that generate electricity in close proximity to where the end consumer of power is located. Distributed generation technologies most often are modular and renewable (wind or solar). When integrated into the utilities’ electricity delivery system, they reduce or eliminate losses along the transmission and distribution lines, increase grid resilience, avoid generation costs and reduce requirements to invest in new utility generation capacity. With proper equipment and calibration, distributed PV systems can also mitigate reliability issues experienced by providing standby capacity during electric utility disturbances or outages.

Energy Efficiency

Energy overconsumption is depleting our natural resources. Therefore, cutting-edge technology and engineering expertise are needed to reduce energy waste in unprecedented ways. By using energy more efficiently, consumers can not only lower their energy bills, but also governments can reduce their reliability on fossil fuel imports. Energy efficiency opportunities exist along all stages of the energy chain, from generation to final consumption. We believe the benefits of energy efficiency (savings) outweigh the costs, especially after a thorough analysis of consumers’ consumption and needs has been implemented. Among the key challenges in this field is to achieve decoupling of increased economic growth and the corresponding increase in energy demand.

IT & Digitalization

Technology and innovation remain endemic to the development and further advancement of various solutions that will secure sustainable development. Frontier technologies hold the promise to establish sustainable patterns of growth that will not only protect against, but also reverse already caused environmental degradation. The digital revolution, in combination with various technologies open up exciting new opportunities, and serve as enablers and multipliers in moving the clean revolution forward.

Resource Efficiency and Recycling

Producing goods using secondary or recycled inputs holds the potential for drastically reducing production costs and carbon emissions. That is because using recycled materials is way less energy intensive than manufacturing goods from primary inputs. Even though it cannot meet industry's entire demand for raw materials, recycling has a great potential to improve overall resource efficiency. The ability of the economy to adapt and become more climate change resilient, resource efficient and at the same time remain competitive depends on high levels of eco-innovation, of a societal, economic, organisational and technological nature.

Who We Are

The company is managed by a cohesive team comprised of experienced individuals who have worked together for more than a decade and who individually have deep knowledge and decades of experience in the energy space. We take pride in our team’s dedication, substantial financial and analytical experience, as well as in their shared belief in the merits of our sustainability mission. By maintaining a dynamic culture that inspires curiosity, we encourage them and we enable them actively to contribute to our portfolio’s success.
Mark Crandall Chairman & Founder
Dimitar Enchev Managing Partner
Alex Hewitt Partner
Fabrizio Cagnasso Partner

Mark Crandall

Chairman & Founder

  • Global business leader and entrepreneur
  • Co-founder of Morgan Stanley’s commodity trading business
  • Head of Glencore’s oil trading operations
  • Co-founder of Trafigura > €100bn revenue
  • Founder and Board Member of CWP Renewables – leading developer of renewable energy projects in Europe & Australia

Dimitar Enchev

Managing Partner

  • Extensive experience in renewable energy, venture capital and private equity
  • In-depth knowledge of the renewable energy sector - wind, solar, biomass, storage and distributed generation
  • Board Member of CWP Renewables and Grassroots Renewable Energy Trust (a $2bln wind, solar, and storage generation platform in Australia)
  • Involved in the development and financing of 1.2GW of capacity/over €2bn of investment, including Europe’s largest wind farm
  • Swarthmore College (USA) and LSE

Alex Hewitt

Partner

  • 25-year career in project development across 5 continents with 12 years in renewable energy
  • Delivered ≈1GW of renewable energy projects
  • Head of CEE at International Water (Bechtel/UU) — acquired and built a portfolio of 2.5m customers
  • Co-founder / Board Member of CWP Renewables
  • Built CWP Renewables into the most successful energy developer in Australia in recent years - $1bn of projects developed and financed in last 3.5 years

Fabrizio Cagnasso

Partner

    Fabrizio is a tax and corporate adviser based in the Principality of Monaco with fifteen years of experience in company management, sitting as a director on the boards of international companies active in diverse industries. He has managed his own firm since 1992 and was a founding partner of CWP where he is now responsible for managing financial aspects of the business and for dealing with tax, legal and compliance issues.

Investments

CWP Global
Software Group
QualSights
Arboreal
Countryside Renewables
CWP Renewables
IPS International
Resalta
Website
CWP Global on LinkedIn

Industry

Renewable Energy

Achievements

1.5+ GW already delivered

2 GW in development in Europe

Developing over 100 GW of green hydrogen projects on three continents

Reach

Global

CWP Global is a pioneer developer of innovative, large-scale renewable energy across four continents, with a proven track record of designing, financing and operating utility-scale wind and solar, and a fast-growing portfolio of groundbreaking green hydrogen projects.

CWP Global's mission is to drive the necessary decarbonization of the global energy sector, supporting the energy transition with high impact projects, particularly in traditionally fossil-fuel-reliant countries and regions where renewables have the potential to underpin a new, green industrial revolution. It has a 2GW renewable energy portfolio in Southeast Europe, in a partnership with Mercuria, and is developing over 100 GW of green hydrogen projects on three continents.

Website
Software Group on LinkedIn

Industry

IT

Achievements

450+ projects delivered

40+ specialized delivery channels solutions

Reach

Global

Software Group is a leading IT company focused on end-to-end solutions for the financial sector. The company serves a worldwide client base from six main offices located in Bulgaria, Kenya, Ghana, Philippines, Mexico and Australia. All offices employ an experienced team of professionals, with an outstanding track record of handling complex financial development projects. Software Group prides itself on delivering products and services which adhere to the principles of quality, transparency and affordability.

Software Group provides solutions to a range of players in the financial sector but focuses particularly on working with microfinance institutions (MFIs), savings cooperatives, credit unions, small and medium sized banks, supermarket chains and investment / donor organizations.

Website
QualSights on LinkedIn

Industry

Qualitative Insights

Achievements

Reach

Global

QualSights is an end-to-end qualitative insights platform that provides brands, agencies and consulting firms a dramatically faster and more affordable way to generate deeper insights at global scale. Clients use QualSights to remotely observe and interact with customers as they shop for, use or consume products in their natural environment; conduct video interviews or focus groups; and enhance in-person fieldwork. QualSights’ software allows customers or field staff from anywhere in the world to broadcast their perspective LIVE from smartphones, smart glasses or 360° cameras in reliable HD video while completely mobile indoors and outdoors, or via A/V equipment at a facility. Clients can observe on any device and probe/interact in real-time to better understand customers. QualSights makes qualitative research scalable by providing the ability to remotely capture insights in real-time combined with powerful AI that makes it fast and easy to find and present the insights that matter most.

Website

Industry

Forestry

Achievements

Reach

Global, Latin America

Arboreal is an international industrial-forestry company based in Uruguay that seeks to establish an innovative and visionary market in Latin America, with the main challenge of creating construction elements through the use of sustainable natural resources such as mass timber. Mass timber is a building material made up of layers of structural grade wood which targets prefabricated building solutions addressing the environmental issues and productivity of the construction sector responsible for 40% of greenhouse gas emissions today. Arboreal aims to promote an authentic and revolutionary path in the world of wood construction.

Website

Industry

Renewable Energy

Achievements

Founders have financed over EUR 2 billion of onshore wind, offshore wind and solar energy projects across Europe.

Reach

United Kingdom

Countryside Renewables is in the business of development, acquisition and finance of solar photovoltaic projects in the UK. The company has a large portfolio of projects under development.

Website
CWP Renewables on LinkedIn

Industry

Renewable energy

Achievements

750 MW portfolio 3.5 GW development pipeline 2 million CO2 emission avoided

Reach

Australia

CWP Renewables develops, operates and owns renewable energy assets in Australia. Since 2007, they have been helping Australia move towards a more sustainable future by reducing emissions through renewable energy generation. They leverage their unique expertise, extensive experience and strong relationships to see projects through their entire lifecycle: from project inception through to operations. They work with local communities to ensure their projects provide significant community benefits, jobs and investment into the local and regional economy.

With the successful completion of dozens of projects they have an asset management portfolio of more than 750 MW and a development pipeline of more than 3.5 GW. On their mission to lead Australia's energy transition they are already responsible for the avoidance of more than 2 million CO2 emission all while creating thousands of jobs and powering more than 200 000 homes.

Website
IPS International on LinkedIn
Case Study PDF

Industry

Power Electronics

Achievements

Intersolar 2014 world innovation award for off-grid power system with electrical energy storage

Certified with the NATO military standard for quality AQAP 2110

Reach

Operating in 58 countries, on 7 continents. First EXERON in Antarctica.

IPS (International Power Supply) was established in 1989 and specializes in the R&D and precision manufacturing of power electronics and energy conversion technologies.

Over the past three decades, IPS has delivered world leading products and currently has a portfolio of 33 different product lines including hybrid and off-grid power systems, rectifiers, inverters, frequency converters, turnkey outdoor power systems.

IPS offers high-specification products and integrated solutions for customers in the following sectors: renewable energy, telecommunications, utilities, and defense.

In 2014 IPS won the Intersolar innovation award for off-grid power systems with its EXERON, an all-in-one modular power conversion system developed by IPS initially for military applications. The system can combine effectively the power from different energy sources like sun, wind, diesel generator and grid. The energy surplus is stored in battery for further reuse.

Website
Resalta on LinkedIn

Industry

Energy Efficiency, Renewable Energy

Achievements

90+ companies have saved 300 GWh of energy and 30,000 t/y of CO2 emissions

Reach

Central and Eastern Europe

Resalta was founded in 2011 with the aim of becoming the leading provider of energy services in the CEE region. Within six years it has registered incredible growth, gained a wealth of experience and helped countless companies and public institutions lower their energy costs, improve their energy efficiency and reduce their carbon footprints.

The company strives to deliver to all clients innovative, technologically advanced and reliable solutions in the field of energy services, that strongly improve their business competitiveness, energy efficiency and environmental footprint.

In 2024 Resalta was officially acquired by Aggreko, a world leader in energy solutions.

News & Updates

Jul 28

Resalta officially acquired by Aggreko

 Our portfolio company, Resalta, the leading energy efficiency services provider in Central and Eastern Europe, has officially been acquired by Aggreko, a world leader in energy solutions. See more... Dec 29

INVENIO Partners and PostScriptum Ventures jointly invest in Software Group

See more... Apr 19

Arboreal - Shaping the world tree by tree

 We are proud to announce our investment in Arboreal, one of the leading sustainable forestry companies in South America. See more... Apr 09

Resalta drives decarbonisation transformation in the glass industry

 Decarbonisation transformation in the glass industry is in full swing. See more... Apr 05

FT ranking: Qualsights ranked among Americas’ Fastest-Growing Companies 2022

 QualSights is one of the fastest growing companies in the Americas, according to the Financial Times See more... Nov 04

"Glasgow Joint Declaration" on AMAN green hydrogen project at COP26

 Mauritania and CWP sign "Glasgow Joint Declaration" on AMAN green hydrogen project at COP26 See more... Oct 12

Mercuria and CWP Join Forces to build 2GW of renewables in Southeast Europe

 Joint Venture to Provide Low-Cost Green Energy and Accelerate Energy Transition See more... Sep 20

CWP joins the UN-backed Race to Zero campaign

 We are thrilled to announce our official acceptance to join the UN-backed #RacetoZero campaign in the lead up to COP26 See more... Sep 07

CWP Global enters Ukrainian market with acquisition of 73 MW wind project

 International energy infrastructure development company CWP Global has acquired a 73 MW onshore wind project under development in Ukraine, entering one of Europe’s largest energy markets, which seeks to replace its ageing fossil fuel-based and nuclear capacities with low-cost, subsidy-free renewable energy. See more... Aug 18

QualSights Ranks No. 282 on the 2021 Inc. 5000

 Inc. magazine announced that QualSights, a Chicago-based consumer insights platform, is No. 282 on its annual list of fastest growing private-companies in the US. They earned rank no. #39 and #12 on the list of fastest growing software companies and fastest growing companies based in Illinois, respectively. Intuit, Zappos, Under Armour, Microsoft, Patagonia, and many other well-known names gained their first national exposure as honorees on the Inc. 5000 list. See more... Mar 16

Countryside Renewables sold 49.9 MW solar project to EDF

 Developer Countryside Renewables has sold to EDF the 49.9-MW Porth Wen project in North Anglesey, Wales, which apart from the solar plant is cleared to include a battery storage unit. See more... Mar 15

Software Group signs an 18 million euro loan facility with European Investment Bank

 The European Investment Bank signed an 18 million euro loan facility with Software Group, supported by the Junker Plan – this is EIB’s first venture debt transaction in Bulgaria! See more... Feb 25

Resalta's energy retrofit for the City of Ljubljana project receives European Energy Service Award

 Resalta is the recipient of this year’s Best Energy Service Project, together with Petrol and the City of Ljubljana. The energy retrofit project of the City of Ljubljana, the most ambitious such project in Southeast Europe, has successfully reduced energy consumption and CO2 emissions on 48 buildings within the municipality, thereby saving 8,000 MWh of energy each year. 3,000 tons of CO2 emissions are cut back each year thanks to the implemented solutions within the energy retrofit, which is the equivalent of planting an additional 175,000 trees. See more... Nov 01

Sydney Airport signs deal to purchase power from CWP's Crudine Ridge wind farm

 Sydney Airport joins the renewable energy revolution! Proud to announce the deal with our portfolio company CWP to cover their energy demand with low-cost renewable electricity from the Crudine Ridge wind farm. See more... Oct 23

CWP brings in Partners Group for 1,300MW of wind, solar and batteries

 CWP enters into a strategic partnership with Partners Group, one of the largest infrastructure funds in the world with close to $100 billion of assets. See more... Oct 05

Software Group clinches deal with a Zimbabwean Bank

 Software Group has secured a deal to digitize the operations of Metbank, one of the pioneers of digital banking in Zimbabwe. The solutions will also allow the bank to increase its footprint in areas where it does not have branches, as well as make services easily accessible to its customers. See more... Sep 20

Resalta completes energy efficiency project for Mercator in Novi Sad

 Our portfolio company Resalta provided a turn-key energy efficiency solution for one of the leading retailers in Serbia, Mercator, that resulted in 22% of financial savings on heat energy. See more...
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July 28

Resalta officially acquired by Aggreko

Our portfolio company, Resalta, the leading energy efficiency services provider in Central and Eastern Europe, has officially been acquired by Aggreko, a world leader in energy solutions. Since our investment in Resalta in 2015, we've supported their vision to transform the regional energy landscape. Resalta has delivered over 200 projects, saving more than 300,000 tons of CO2 emissions and over 1 TWh of energy for their clients. Our heartfelt thanks go to the Resalta team for their dedication and partnership. We are proud of their achievements and look forward to their continued growth and success within the Aggreko family. Congratulations to Resalta on this exciting new chapter!
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December 29

INVENIO Partners and PostScriptum Ventures jointly invest in Software Group

INVENIO Partners (“INVENIO”) are pleased to announce an investment of up to EUR 6 million in Software Group, a global leader in providing technology solutions to the finance sector. PostScriptum Ventures (“PostScriptum”), already an investor in the company, will contribute up to EUR 3.5 million, bringing the total investment to EUR 9.5 million. This significant funding will support Software Group's continued growth and innovation in financial technology.

Founded in 2009 Software Group has solidified its position as a globally recognized technology provider in the USD 100 billion digital financial services industry serving a diverse client base comprising more than 200 banks, governmental bodies, central banks, telecoms, fintechs, and other financial institutions across more than 70 countries. At the core of Software Group's offerings are DigiWave, its award-winning digital banking platform and prebuilt solutions that contribute to a better digital financial ecosystem, impacting positively the lives of more than 100 million people worldwide. The company empowers its clients to lead digital banking transformation and innovation, accelerate financial inclusion, establish nationwide payment and financial service platforms, support SME growth, and contribute to building a modern digital economy.

For Software Group, the investment represents not just financial support, but a partnership that will fuel its mission to revolutionize the way financial services operate globally. The new investment will fortify Software Group’s leading position in the market and secure its growth strategy as it continues its mission to create pioneering solutions enabling next-generation financial and public services.

Elvin Guri, CEO of INVENIO Partners, commented, “Taking place at an inflection point for the company, this investment reflects our confidence in Software Group’s potential. We are excited to support their journey towards further global expansion and digital innovation.”

Kalin Radev, CEO of Software Group, stated, “We are immensely grateful for this partnership with INVENIO Partners and the continued support from PostScriptum Ventures. Their investment will enable us to enhance our product offerings and extend our market reach, reinforcing our commitment to driving digital transformation in emerging markets.”

Dimitar Enchev, CEO of PostScriptum Ventures, added, “Having supported Software Group for several years now, we have seen clearly its potential. This investment is evidence of our continued confidence in the future of the company.”

Penkov, Markov & Partners provided legal advice to INVENIO Partners.

INVENIO Partners is a private equity investor focused on investments in Southeast Europe. We specialize in discovering companies with solid track records, potential for leadership positions in their respective industry, with competitive business models, and experienced management teams. We have long and successful experience in promoting and helping companies realize their full potential by providing growth capital, strategic guidance, and operating support to strong management teams. INVENIO Partners Fund II SCSP, through which this investment is made, is supported by the European Investment Fund (www.eif.org) as its anchor investor, and a number of other reputable investors, including two of the leading pension fund managers in Bulgaria.

For further information, please contact:
Tihomir Dyankov, Chief Investment Officer
or learn more at www.invenio.partners

PostScriptum Ventures is an investment group with a broad portfolio of investments in decarbonization, sustainability, and technology. Established in 2006, PostScriptum and its subsidiaries have been among the global pioneers in the energy transition.

For further information, please contact:
Bogomila Galaboff, Head of Communications
or learn more at www.postscriptum.com

Software Group is a global technology company specialized in digitalization and integration solutions for financial service providers. It currently serves a worldwide client base in more than 70 countries from 9 regional offices located in Australia, Bulgaria, Egypt, Ghana, India, Kenya, Mexico, the Philippines, and the USA. Among the customers of Software Group are organizations like Bill and Melinda Gates Foundation, Mastercard and Mastercard Foundation, International Finance Corporation (IFC), Asia Development Bank, Asia Confederation of Credit Unions (ACCU), Standard Bank, Access Bank, Bank South Pacific, Commercial International Bank Egypt, Bank de Caire, Dosh New Zealand, Allianz Bank, Eurobank, Generali, Fidelity Bank Ghana, Kenya Commercial Bank and more than 200 financial service providers from across the globe.

For further information, please contact:
Kalin Radev, Chief Executive Officer
or learn more at www.softwaregroup.com

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April 19

Arboreal - Shaping the world tree by tree

We are proud to announce our investment in Arboreal, one of the leading sustainable forestry companies in South America. After acquiring the largest sawmill in Uruguay last year, with an annual capacity of 250k m3, we are now investing another $20 million in a cross-laminated timber production line – by far the largest in South America. Why CLT? Technical timber (a.k.a. mass timber) is an economically viable way to decarbonize the construction industry, which accounts for a large part of global CO2 emissions. Using timber as a construction material is more than carbon neutral - it could actually sequester carbon from the atmosphere. Mass timber allows for quicker construction compared to conventional materials such as steel and concrete (both very highly carbon intensive). It is also beautiful. Sustainable forestry is the key to unlock CLT’s true potential, and we are excited to be one of the pioneers in this promising industry.
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April 09

Resalta drives decarbonisation transformation in the glass industry

Decarbonisation transformation in the glass industry is in full swing. A customized energy audit report developed by Resalta in association with the renowned Slovenian glass manufacturer Steklarna Hrastnik d.o.o. was delivered to the company's CEO Peter Čas today at the company headquarters in Slovenia. Hrastnik1860 is today recognized as a pioneer in decarbonization in glass packaging industry. The company is planning to to replace a third of the fossil fuel consumption by 2025 using green energy, an increase of energy efficiency by 10% and decrease their carbon footprint by more than 25%. By 2030 Hrastnik1860 will ambitiously reduce thier carbon footprint by more than 40% and is planing to go carbon neutral by 2050.
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April 05

FT ranking: Qualsights ranked among Americas’ Fastest-Growing Companies 2022

We're very proud to announce that our portfolio company QualSights is one of the fastest growing companies in the Americas, according to the Financial Times. Ranked #12 in Technology and #57 overall on the FT's Americas' Fastest Growing Companies 2022 list, Qualsights grew faster than Zoom from 2017 through 2020. Congratulations to Nihal Advani and the whole team! https://lnkd.in/dJ_2YU4X
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November 04

"Glasgow Joint Declaration" on AMAN green hydrogen project at COP26

On the occasion of the COP26 Climate Summit, hosted in Glasgow, Scotland, from 1 to 12 November 2021, Following the establishment by Heads of State of a set of new global goals (“Glasgow Breakthroughs”) to, inter alia, accelerate the development and deployment of green hydrogen as a critical technological tool for decarbonizing heavy industry and transport, Welcoming the important advances made at COP26 in the field of energy transition as well as the commitment of a growing number of countries to support the large-scale development of clean energy alternatives to fossil fuels, Recalling Mauritania’s support for the newly established African Green Hydrogen Alliance and the pioneering work of the United Nations High-Level Champions for Climate Action, including their help in initiating the Green Hydrogen Catapult, Recognizing that Mauritania has exceptional wind and solar energy resources, which if well harnessed for the production of clean, low-cost electricity and for the large-scale production of green hydrogen and ammonia, will create a massive boost and a new industry for Mauritania, delivering economic diversification into high-skilled and labour- intensive industries and services, sustained investments into physical infrastructure and human capital, and access to cheap power and water for the Mauritanian people, Recalling the signing in May 2021 of a Memorandum of Understanding between IRM and CWP Global, a leading green hydrogen project developer, for the initiation of plans to develop IRM’s first-ever green hydrogen hub, the 30GW AMAN green hydrogen project the Dakhlet Nouadhibou and Inchiri regions, which it is estimated has the potential to boost IRM’s current GDP by around 50% by 2030, The I.R.M. and CWP Global jointly declare the following: 1. We confirm the implementation of the second phase of work to develop the AMAN project; 2. We confirm our joint vision for the rapid implementation of the AMAN project, which at full scale will comprise around 30GW of hybrid wind and solar energy to realise annual production of green hydrogen for 10 million tonnes of green ammonia, which will enhance IRM’s food security, access to green fuels and a massive new export industry; and 3. We agree to pursue the following timetable of milestones for development of the AMAN project: A. Completion of feasibility studies by December 2022 B. Environmental and social impact studies by June 2023 C. Completion of the FEED by December 2024 D. Pursue financing agreements, FID & commencement of construction in 2025 E. Production commences before 2030 4. Preliminary economic studies indicate that the AMAN project will have a profoundly transformative impact on Mauritania's economy and generate thousands of direct and indirect jobs, while contributing to the global energy transition and international efforts to combat climate change. 5. At the same time, we encourage the development of other associated projects in Mauritania, in the fields of desert agriculture, hydrogen-based transport, iron processing and other industries requiring abundant amounts of energy and water, which will allow us - all together - to contribute to the decarbonization of our planet as well as to continue developing the necessary technologies. 6. We invite all actors and future partners, sharing our vision and ambition, to invest in our country and say to them: Marhaba!
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October 12

Mercuria and CWP Join Forces to build 2GW of renewables in Southeast Europe

CWP, the leading independent renewable energy developer in Southeast Europe and Australia, and Mercuria Energy Trading, one of the world's largest independent energy traders with more than US$100 billion of revenue, have joined forces to complete development and build out CWP 's renewable energy portfolio in Southeast Europe. CWP’s project portfolio has been in active development since 2018 and consists of more than 2 gigawatts (GW) of large-scale wind, solar, and battery storage projects across Bulgaria, Serbia, Romania and Ukraine. Mercuria’s investment in CWP Europe will support its efforts to accelerate decarbonisation in the four carbon intensive countries. Mercuria, a commodity trading giant, will provide its broad expertise in energy markets as well as increased financial support, which will allow CWP Europe to realise its €1.9 billion investment plan over the next several years. "We see a tremendous opportunity in these markets, where a massive amount of expensive and polluting coal needs to be replaced with renewables as quickly as possible," said Dimitar Enchev, CWP Europe's CEO. "This is the only way to achieve decarbonisation targets, keep power prices in check in the long run, and maintain the region's economic competitiveness. Partnering with Mercuria will allow us to supercharge our already ambitious plans." CWP has a successful track record of developing, managing, and owning renewable energy projects, using a proven approach for advancing each project from inception to full operation while ensuring genuine engagement with all stakeholders. The company has won multiple awards for community engagement. It is already the leading international developer active in the region, having developed the largest wind farms in Serbia - the 156-megawatt Čibuk project, and Romania - the 600-megawatt Fântânele- Cogealac project. The strategic investment in CWP Europe by Mercuria will accelerate the development of the existing portfolio and significantly expand the opportunity with additional developments. CWP is also one of Australia's largest renewable energy developers, having realised 760 megawatts of capacity, with another 2.5GW of wind, solar, and storage under development in a joint venture with Partners Group. The company is an innovator in the renewable energy space, pioneering innovations such as marked-based (i.e., merchant) projects, corporate PPAs, hybridization and battery storage, and now counts some of Australia's most reputable businesses among its clients, including Commonwealth Bank, Sydney Airport and the Sydney Opera House. Mercuria is a leading player in European wholesale power with a deep understanding of both regional and pan-European markets. It's broad spectrum of trading activities across the energy space and deep understanding of all commodities allows for a cross - commodity analytical approach. Bringing Mercuria's experience to CWP Europe will enable it to optimise its portfolio of renewable energy assets, better manage market exposure, and develop structured transactions to enhance its product offering to corporate clients. Bulgaria, Serbia, Romania and Ukraine are Europe's most carbon-intensive energy markets, with coal still playing a dominant position. These markets also have some of Europe's most polluted air, and some of the highest rates of premature deaths caused by air pollution in the developed world. The decarbonisation of these markets is an urgent priority and will require tens of thousands of megawatts of wind and solar energy. Together, CWP and Mercuria will lead the transition from polluting fossil fuels to clean, low-cost green energy. "We are pleased to join CWP Europe to help provide needed low-cost green energy to Southeast Europe," said Jean-François Steels, Vice President of Energy Transition at Mercuria. "We look forward to working together with the CWP team by further developing their portfolio and bringing our commodities market expertise to their strategy." With wind and solar energy now considerably cheaper than any alternative energy source, there is a significant opportunity to create value by intelligently managing the generation from a renewable energy portfolio with a non-contracted, merchant component. The partnership with Mercuria will further strengthen CWP Europe's expertise in trading renewable energy assets and allow it to offer superior and more competitive products to its corporate and industrial power off-takers. Alexa Capital acted as exclusive financial advisor to CWP. Alexa Capital is a leading independent investment bank providing clients with capital solutions on the path to net-zero.
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September 20

CWP joins the UN-backed Race to Zero campaign

We are thrilled to announce our official acceptance to join the UN-backed #RacetoZero campaign in the lead up to COP26 - UN Climate Change Conference in Glasgow in November, committing CWP Global to ensure net zero GHG emissions for its operations by 2040. In doing so, we join upwards of 4,500 leading corporations, investors, cities, subnational governments and educational institutions taking rigorous and urgent action towards halving global emissions by 2030, and delivering a healthier, fairer zero carbon world in line with the Paris Agreement. We look forward to joining world leaders, ministers and business colleagues at COP26 to share our vision for large-scale renewable energy and a new global green hydrogen industry that can drive the rapid and necessary decarbonisation of the world’s energy systems. See you in Glasgow!
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September 07

CWP Global enters Ukrainian market with acquisition of 73 MW wind project

The construction of the wind farm, located in the Kherson region of southern Ukraine, will cost EUR 76 million and is expected to begin in 2023, according to a press release from CWP Global. The project will create 360 jobs.

GWP Global will invest EUR 76 million in the wind project in Ukraine and create 360 jobs

The company has developed nearly 2,000 MW of renewable energy projects in Australia and the Southeast Europe region, including Europe’s largest operational onshore wind farm and the biggest wind projects in Romania and Serbia. It has an ambitious plan for Ukraine, where the share of renewables in energy generation stood at just 4% in 2015 but is projected to grow to up to 25% over the next decade.

This forecast by the International Energy Agency (IEA) is consistent with Ukraine’s new Energy Strategy (ESU) that focuses on attracting investment to develop the country’s energy infrastructure and integrate it into the European market system by 2025, GWP Global said in the press release.

Ukraine could become major hub for hydrogen export to Western Europe

CWP Global also believes that Ukraine is uniquely positioned to deliver large-scale renewables for the production of green hydrogen and its derivatives for export into the EU, where decarbonization efforts are driving demand for this clean fuel. The company is a global pioneer of large-scale hydrogen generation and one of the developers behind the 26 GW Asian Renewable Energy Hub.

According to the press release, CWP Global views Ukraine as a potential continent-scale production hub to generate and export hydrogen to western European countries.

The decarbonization drive will soon dramatically increase demand for green hydrogen in Western Europe

“Western European markets are rapidly increasing demand for green electricity and will soon dramatically increase demand for green hydrogen, all due to the drive to decarbonize the energy sector. Given Ukraine’s important renewable energy potential, and because of its proximity to this growing market, it was the obvious choice for CWP Global to invest in Ukraine,” said Mark Crandall, Chairman at CWP Global.

CWP Global plans to expand its portfolio in Ukraine with further large-scale grid-connected and Power-to-X projects, and is actively looking for new opportunities, the company said.

Source: https://balkangreenenergynews.com/
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August 18

QualSights Ranks No. 282 on the 2021 Inc. 5000

QualSights is an immersive insights platform that provides companies a dramatically faster and cost-effective way to generate deeper, more authentic insights from consumers anywhere in the world. As the first and only truly integrated solution to seamlessly support multiple research methodologies, QualSights helps brands stay on top of consumer needs, capturing and socializing them efficiently across markets and cross-functional teams. Its intuitive research technology is utilized by companies of all sizes and across industries, including consumer packaged goods, food and beverage, personal care, retail, electronics and pharmaceuticals. Since its inception, QualSights has helped many Fortune 500 brands successfully refine their messaging, develop countless innovative products and develop a stronger understanding of their target consumer.

“QualSights is honored to be recognized by Inc. 5000 after overcoming numerous obstacles and a year of uncertainty. Our hard-working team, cutting-edge insights technology and customer-focused approach allowed us to be trusted partners to our clients over the years,” said Nihal Advani, CEO and founder of QualSights. “We’re excited to continue on this extraordinary trajectory and look forward to bringing even more innovative solutions to help brands unearth deep, authentic insights in record time.”

“The 2021 Inc. 5000 list feels like one of the most important rosters of companies ever compiled,” says Scott Omelianuk, editor-in-chief of Inc. “Building one of the fastest-growing companies in America in any year is a remarkable achievement. Building one in the crisis we’ve lived through is just plain amazing. This kind of accomplishment comes with hard work, smart pivots, great leadership, and the help of a whole lot of people.”

Not only have the companies on the 2021 Inc. 5000 been very competitive within their markets, but this year’s list also proved especially resilient and flexible given 2020’s unprecedented challenges. Among all of the companies that made the Inc. 5000 list, the average median three-year growth rate soared to 543 percent, and median revenue reached $11.1 million. Together, those companies added more than 610,000 jobs over the past three years.

Complete results of the Inc. 5000, including company profiles and an interactive database that can be sorted by industry, region, and other criteria, can be found at www.inc.com/inc5000. The top 500 companies are featured in the September issue of Inc., which will be available on newsstands on August 20.

Source: https://www.globenewswire.com/

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March 16

Countryside Renewables sold 49.9 MW solar project to EDF

Countryside Renewables has secured a successful sale of its 49.9 MW (AC) North Anglesey Solar plus Storage Project to EDF Renewables, who will be moving forward with construction and operation of the project. As one of the largest consented solar projects in Wales and one of a new standard size of large-scale solar projects in the UK, it will make a significant contribution to Wales reaching its net zero CO2 emissions target by 2050.

John Dunlop, Managing Partner of Countryside Renewables, said “We’re proud to have achieved the construction-ready milestone, after having fully developed the site from initial concept. The project is now moving on to the next investment stage of construction and operation with EDF Renewables. The project is well positioned for potential expansion and for the addition of onsite battery storage.”

Mark Connolly, Director at Countryside Renewables, added “We’re grateful to all of the stakeholders who cooperated with us in solving the challenges along the way. We were able to keep grid connection costs reasonable through applying best practice and to co-locate with a third-party wind farm through constructive negotiations.”

The North Anglesey Solar Project (to be named Porth Wen by EDF Renewables) was developed by Countryside Renewables to subtly merge into the surrounding countryside and to have very low visual impact, as much of the development is far from general view. Sheep will continue to graze on the site and a one-mile-long wildlife corridor will be established. The project will provide local schools with a community benefit of £10,000 per year. It will also liaise with the North Wales Economic Ambition Board to ensure local and regional contractors are informed of opportunities when the project gets to the contract procurement stage.

Countryside Renewables developed the project to be one of the most commercially competitive renewable energy projects in the UK due to its good coastal location with high solar irradiation, large scale and on-site grid connection. Generations to come will benefit from its low-cost, clean electricity for electric vehicles and for the UK to reach its net zero CO2 emissions obligation by 2050.

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March 15

Software Group signs an 18 million euro loan facility with European Investment Bank

Software Group, a global technology company that helps financial service providers digitize their business and successfully go through the process of digital transformation, signs a loan deal with the European Investment Bank (EIB) to receive EUR 18 million funding.

The loan to Software Group is EIB’s first transaction with venture debt features in Bulgaria. The operation provides direct support to the company and is backed by a guarantee from the European Fund for Strategic Investments (EFSI), a key component of the Investment Plan for Europe. EIB financing will facilitate the execution of Software Group’s R&D strategy and strengthen its global reach.

The funds will be invested in two main areas - primary in R&D and innovations, but also in Business Development and Marketing. In the next three years, Software Group will focus on developing new technologies, platforms and products in the fields of insurance, factoring and the Internet of Things (IoT). The company also plans to invest in strategic partnerships with other technology vendors and consultancy organizations.

„We are proud to be the first company in Bulgaria that successfully completed the procedure for receiving a venture debt by EIB. The funding will support our ambitious business goals and our development plan for the next three years. We will invest in innovations, attracting top talents, entering new business areas while continuing the steady growth of the company”, commented Kalin Radev, CEO of Software Group.

„This highly innovative project, backed by a guarantee from the Investment Plan for Europe, will support the growth of the Software Group and generate new jobs with high value. We have now improved the geographical spread of our projects enjoying an EU budget guarantee, and I’m happy that Bulgaria is one of important beneficiaries,” noted Vazil Hudák, EIB Vice-President.

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February 25

Resalta's energy retrofit for the City of Ljubljana project receives European Energy Service Award

The European Energy Service Award (EESA) honours companies and projects for outstanding efforts and achievements in energy services. It is awarded by the European Commission and the Berliner Energieagentur (BEA), and was given out on February 20th at a ceremony in Brussels, as part of the Covenant of Mayors Investment Forum. The Forum, organized in partnership with the European Commission, is the world's largest movement for local climate and energy actions, gathering 7,000+ local and regional authorities across 57 countries to work to stop climate change.

Ljubljana’s recognition first as European Green Capital and now for the success of the ambitious energy retrofit project, means that it will serve as an example and a leader in energy efficiency not only in Southeast Europe but further abroad. It is truly rewarding for Resalta to have been involved in the hard work required for this project and to see it recognized and acknowledged at the European level. The amazing results that were achieved, on a scale that is seldom seen in the region or even further abroad, are proof that energy efficiency is a significant and powerful tool that should not be overlooked on the road to sustainable development and reaching 2020 goals.

The City of Ljubljana has, following the success of the first project, launched a second one for the retrofit of an additional 11 municipal buildings, once again with the consortium Resalta and Petrol, joined this time by Javna Razsvetljava for lighting solutions. Learn more about the second energy retrofit here.

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November 01

Sydney Airport signs deal to purchase power from CWP's Crudine Ridge wind farm

Sydney Airport has signed a Memorandum of Understanding (MoU) with Grassroots Renewable Energy to purchase power from the 135MW Crudine Ridge wind farm located 45km south of Mudgee in New South Wales.

The power purchase agreement (PPA) is part of the airport’s renewables transition plan and its effort to reduce its carbon footprint by 50% by 2025.

Sydney Airport will receive up to 75% of its current electricity from the wind project under the MoU, which combines renewables with firming generation.

The airport will be supplied with wind power from the Crudine Ridge Wind Farm contracted through Origin, which will provide baseload firming generation when the wind is not blowing enough to meet the airport’s load.

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October 23

CWP brings in Partners Group for 1,300MW of wind, solar and batteries

CWP Renewables has joined forces with global private markets investment manager Partners Group to build a total of 1,300MW of wind, solar and battery projects that they say will beat coal power on price and reliability.

The commitment from Partners Group will see the 135MW Crudine Ridge project south of Mudgee begin construction soon, but Partners will inject a total of $700 million to ensure CWP’s entire 1,300MW portfolio of wind, solar and batteries goes ahead.

The investment is designed, and timed, to take advantage of the closure of Liddell, and is built on expectations that closures of other coal-fired generators will follow.

“We can, from this large portfolio, produce 24/7 baseload renewable power at very competitive prices,” CWP chief executive Alex Hewitt says. “This is the future of large-scale generation in Australia.”

These projects – dubbed the Grassroots Renewable Energy Platform – include the 230MW Sapphire solar farm and 70MWh battery storage, which will combine with the 270MW Sapphire wind farm near Glenn Innes (pictured above) that is nearly complete.

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October 05

Software Group clinches deal with a Zimbabwean Bank

Software Group a global software company with African headquarters in Kenya, has secured a deal to digitize the operations of Metbank, one of the pioneers of digital banking in Zimbabwe.

The Software Company that is a leading provider of alternative delivery channel solutions to financial services industry with other African offices in Ghana and Nigeria will help Metbank enrich its digital offerings as it expands its reach.

Metbank will be relying on Agency, Internet and Mobile Banking solutions by Software Group to provide digital onboarding to its customers and capture biometric data as part of the process.

The solutions will also allow the bank to increase its footprint in areas where it does not have branches, as well as make services easily accessible to its customers.

Agents will be able to process balance enquiries, mini statements printouts, cash deposit and cash withdrawals. The internet and mobile banking solutions will serve both the individual and corporate customers of Metbank.

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September 20

Resalta completes energy efficiency project for Mercator in Novi Sad

One of the leading retail chains in the Novi Sad region, Mercator, like any other consumer of energy, was looking for ways to lower costs and become more efficient and environmentally-friendly. Its Serbian branch turned to Resalta for long-term solutions.

The first of four projects that Resalta will carry out for Mercator in Serbia was implemented in its Roda shopping center in Novi Sad. Previously reliant on a nearby factory for its heat supply, the shopping center is now energy independent.

After a thorough energy audit, Resalta established that the most appropriate solution for this facility would be the installation of two natural gas boilers of 1,600 kW and 1,300 kW respectively, which would ensure constant and stable heat supply as needed. Natural gas is an ecological fuel source that is also cost friendly, and the switch will result in 22% of financial savings on heat energy each year for Mercator. In addition, the new heating system will reduce CO2 emissions by 232 tons each year.

The works were undertaken with no interruption of operations for the client and fully completed in January 2018. Resalta financed the entire project, and will recover its investment from the client’s savings over a contractual period of 5 years. Resalta’s turnkey solutions mean that the entire project was undertaken by Resalta’s team from the energy audit to the finalization, and that Resalta will now take care of operations and maintenance for the duration of the contract. The client had no CAPEX expenditure and is free of risk for the duration of the contract, benefiting immediately from a significant part of the cost savings achieved.

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