Seeking Outstanding Returns Through Investments in Sustainability

What We Do

Postscriptum Ventures is a venture capital group with a broad portfolio of sustainable investments. Established in 2006, Postscriptum invests in innovative technology and disruptive business models, with a particular focus on the ongoing (r)evolution of the energy sector. We prefer to invest in early stage ventures where our expertise and experience can leverage our financial investments to help realize the full growth potential of the business. 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, and are uniquely positioned to deliver outstanding results to our shareholders and create maximum positive impact for all stakeholders, the environment and society at large.

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 2017. Solar PV grew by an impressive 32% in 2017, followed by wind energy which grew by 10%.

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
Tijana Gajic ESG Lead
Denitza Lalova Research Analyst
Veselin Iliev Senior Financial Analyst
Ivan Lozanov Associate
Bogomila Traykova Branding & Communications Manager
Momchil Arnautski Financial Analyst
Ivaylo Shirokanski Financial Analyst
Veronika Stoyanova Head of Finance & Administration
Denitsa Mitsova Financial Controller
Zornitsa Minkovska Financial Controller
Maria Hadzhikireva People & Culture Officer
Jelena Matejic Project Assistant
Teodora Ivanova Office Coordinator

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.

Tijana Gajic

ESG Lead

  • Currently in charge of financial and management reporting and tax structuring for Postscriptum and its subsidiaries.
  • 9+ years of experience in areas of financial controlling, management reporting, financial analysis, accounting, audit and tax structuring.
  • Former audit team leader/member at PwC
  • Former Financial Controller at Continental Wind Partners LLC
  • Executive Director at PEXIM Foundation (in cooperation with Cambridge University Trust, Government of Serbia, Government of Macedonia)
  • University of Cambridge (UK), University of Vienna (Austria), University of Belgrade (Serbia)
  • ACCA candidate

Denitza Lalova

Research Analyst

  • 4 years of experience in Project Management in the renewable energy industry
  • 2 years of experience in market and data analysis
  • 4+ years of experience supporting top management
  • BSc in Chemistry, Sofia University; MBA with a focus on Environmental Management, NBU

Veselin Iliev

Senior Financial Analyst

  • Experience in renewable energy, venture capital, private equity and M&A
  • Strong knowledge of the renewable energy sector - wind, solar, biomass, storage and distributed generation
  • Involved in the development and financing of the Sapphire Renewable Energy Hub (more than 550MW)
  • Part of the due diligence team advising Luxaviation Group in becoming world’s second largest corporate aircraft operator
  • Worcester Polytechnic Institute (USA), Cass Business School (London)

Ivan Lozanov

Associate

  • Experience in renewable energy, business development and private equity
  • Expertise in distributed energy projects, public and private tenders
  • Focus on organic growth and sustainable business practices in portfolio companies
  • University of Kent (UK), Musashi University (Japan)

Bogomila Traykova

Branding & Communications Manager

  • Experience in sustainability consulting
  • Experience in international business development (with focus on solar energy projects)
  • 6+ years of entrepreneurial experience and start-up development
  • BSc in International Business Administration, Economics and Social Sciences from Vienna University of Economics and Business, Master in Green Management, Energy and Corporate Social Responsibility from Bocconi University (Milan)
  • Member of oikos Switzerland

Momchil Arnautski

Financial Analyst

  • Experience in the renewable energy sector
  • Hedge fund equity trading experience encompassing various industries, top-down, bottom-up, quantitative and fundamental research, along with algorithmic trading strategy development 
  • Experience in assurance engagements, including analytical and due diligence procedures 
  • Bocconi University (Italy), Rotterdam School of Management (Netherlands)

Ivaylo Shirokanski

Financial Analyst

  • Experience in data analytics (machine learning and econometrics) as well as financial modeling and valuation
  • Experience in strategy consulting and product development
  • 2+ years of entrepreneurial experience 
  • BSc Hons Economics - University of Warwick; MPhil in Finance - University of Cambridge

Veronika Stoyanova

Head of Finance & Administration

  • Four years of experience in areas of financial controlling, management reporting, financial analysis, accounting, audit and tax structuring.
  • Currently assisting the Head of Finance and Administration of PostScriptum.
  • Former audit team leader/member at KPMG Bulgaria, in charge of audit of companies in Consumer & Retail, Real Estate & Construction and Healthcare.
  • Former Management Accountant at Bulgarian Helsinki Committee, an independent non-governmental organization for the protection of human rights.
  • School of Management, University of Bath; Faculty of Finance and Accounting, UNWE
  • ACCA candidate

Denitsa Mitsova

Financial Controller

  • Three years of experience in financial controlling, management reporting, accounting, audit and tax.
  • Currently assisting the Head of Finance and Administration of PostScriptum.
  • Formerly part of the audit practice of KPMG Bulgaria, in charge of the audit of companies primarily in Retail & Manufacturing.
  • BA in Business Administration, American University in Bulgaria (AUBG)
  • ACCA candidate

Zornitsa Minkovska

Financial Controller

  • Three years of experience in financial controlling, management reporting, and private equity analysis.
  • Experience in strategy financial planning and variance analysis between forecasts and actuals as an Associate Business Planning Analyst at IBM.
  • Experience in analysis of private capital partnership financials as a Private Equity Analyst at Burgiss.
  • B.A. in Business Administration with minors in Economics and Information systems from American University in Bulgaria.

Maria Hadzhikireva

People & Culture Officer

  • 4+ years of experience in Executive Leadership Support
  • Administrative procedures management
  • Member of the Global PA Association & Training Academy
  • Experience in team building and motivational events organization 
  • Master Degree in Public Relations at Sofia University

Jelena Matejic

Project Assistant

  • 3 years of experience supporting top management.
  • Previous experience as customer relationship manager, team manager, and content creator for marketing campaigns.
  • Highly skilled at leadership enhancement, effective time management, communication of leadership intent, effective conflict resolution, information management to enable leadership decision-making.
  • Master degree in Literature at Belgrade University, Serbia.

Teodora Ivanova

Office Coordinator

  • 7+ years of Administrative experience
  • Currently providing administrative support to all departments, organizing business trips and assistance in coordinating events.
  • Studied Public Relations in New Bulgarian University
  • Second degree professional qualification – Associate in small and medium business

Investments

CWP
Freedom Energy
Resalta
IPS International
Software Group
Countryside Renewables
QualSights

Industry

Renewable Energy

Achievements

1.5+ GW already delivered.

1.4 GW in development in Europe.

Development and financing of largest onshore wind farm in Europe.

Development of the largest green hydrogen project in the world - 26 GW AREH

Reach

Australia and Europe

CWP is a long-established renewable energy developer, owner and asset manager. The company has over two decades of renewable energy development experience in Australia and offices in New South Wales (NSW), Queensland, South Australia and the Australian Capital Territory, with key development activities coordinated from the NSW base in Newcastle.

In Europe, CWP successfully developed and financed the 600MW Fantanele project – the largest onshore wind farm in Europe. Within Australia CWP has 517 megawatts (MW) of greenfield projects that have been developed, financed and have entered into construction/operation since 2013. This includes the award-winning 113MW Boco Rock wind farm development south of Cooma, NSW, the 270MW Sapphire Wind Farm, the largest in size and capacity in NSW, and the recently financed 134MW Crudine Ridge Wind Farm south of Mudgee, NSW.

Industry

Off-grid Electrification

Achievements

Unlocking the economic potential of previously underdeveloped markets

Reach

AustralASIA

Freedom Energy develops, finances, and builds off-grid power projects. By intelligently combining solar with battery storage, the company provides reliable baseload power in a range of off-grid situations. Utilizing the best available technology, an innovative development approach and creative financial structures, Freedom Energy delivers affordable, clean power in non-electrified locations around the globe.

With its unique development platform, the company has streamlined process by utilizing the best, most flexible and easy to deploy technology available on the market and by leveraging our experience in the development and financing of renewable energy projects. The result is a uniquely efficient process which removes unnecessary design and installation costs, and allows the most competitive, quick and consistent overall solution.

They specialize in the development of hybrid systems but in some cases, depending on the project, location, and counterparty, Freedom Energy can offer an Energy-as-a-Service model where the project's CAPEX is fully financed. This approach provides a hassle-free, no-capital-required way to receive clean power and to start realizing savings immediately.

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.

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.

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.

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.

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.

News & Updates

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...

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...

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...

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...

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...

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...

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...

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...

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...

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/

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/

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.

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.

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.

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.

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.

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.

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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