Looking back on 2016: Surreality bites
Published December 2016
Well, it’s been a weird old year – not only on the world stage, but also when it comes to the wonderful world of renewables and energy storage. Weird and exciting.
Q1 saw us launching offices in Scotland and France. Our new Gallic and Gaelic Everoze Partners hit the ground running, highlights including an influential study on the costs of onshore wind in Scotland and a clutch of high profile due diligence engagements in France, most recently including a large mixed tech refinancing deal.
The strangeness kicked-in properly in Q2 when for such a young company we saw it fit to turn our attention to old age. Our Life Extension Assessment Framework (LEAF) was launched to help owners and investors to make sense of the opportunities associated with aging renewables assets. At the same time, our very own aging asset, Colin Morgan, was helping to close the first non-utility 100% acquisition of an offshore wind project in the UK.
Q3 was all about the weird and exciting world of energy storage, as decoded in our must-read “Cracking the Code” report. We were thrilled to support one of the winners of the Enhanced Frequency Response pilot tender, though the somewhat shocking result caused us to think deeply before tabling an explanation. Using drones to spot defects on solar assets provide a welcome distraction even if for Everoze Partner, Paul Reynolds this felt strangely like fulfilling his childhood super-hero fantasies.
Q4 felt distinctly Dali-esque as a series of ever decreasing tender results made us wonder if the offshore wind sector had morphed into an intense game of limbo or perhaps we were all just dreaming, as this once “expensive” technology raced towards grid-parity.
2016: busy, exciting and strange. None of it would have been possible without the excellent business relationships we’ve developed with our clients and partners. So whether you are feeling weirded-out, excited or just plain exhausted, from all the Everoze Partners, we thank you for the journey so far and wish you an enjoyable yet, distinctly predictable Christmas break.