Strategic agreement sees Greensolver and PLY Energy collaborate to deliver enhanced European asset management services to financiers and investors.
Greensolver, the independent wind and solar farm asset manager, has announced that it is merging with Dutch based developer and asset manager, PLY Energy. Under the terms of the agreement, PLY Energy will join the Greensolver brand to deploy joint services that include procurement and contracting, due diligence, construction and asset management.
With the steady growth of the Dutch wind energy market, and increasing investor demand for services throughout Northern Europe’s maturing wind and solar energy asset base, the merger of the two businesses enables Greensolver to expand its existing offering in the UK and the Netherlands. The deal also enables Greensolver to significantly enhance its construction management and health and safety expertise.
The new company entity will deliver all critical services currently available from Greensolver, including European technical advisory, asset optimisation and due diligence. The deal will see Greensolver expand its portfolio of managed assets by 82MW, with 54MW of assets in the UK and the remainder in the Netherlands.
Greensolver Chief Executive Guy Auger will continue to lead the strategy for the growing business, with Gerben Smit appointed as General Manager and Financial Director, Greensolver. PLY Energy’s Alexander Harssema will become General Manager for the UK and the Netherlands. Paris will continue to be the company headquarters, with offices in London and Groningen and a combined head count of 30.
The official operational roll out will commence in January 2016.
“Whilst the fortunes of the main European onshore wind and solar markets have been mixed in recent years, the fact remains that there is a mature asset base of operational onshore renewable energy in Northern Europe. The UK presents a clear opportunity for joint asset management services, and we’re seeing plenty of future growth potential for wind and solar in the Netherlands,” said Guy Auger, Chief Executive, Greensolver.
“With this in mind, PLY Energy, with its Dutch heritage and operational outlook, was an obvious partner as we look to expand our European footprint.”
“Under the joint enterprise we will simultaneously reinforce our presence in the UK by inheriting 54MW in operation, while continuing to offer Greensolver’s leading technical due diligence services and unique performance benchmarking tool, Greensolver Index.”
Alexander Harssema, General Manager, UK and Netherlands said: “Taking the opportunity to join Greensolver made a lot of sense, based on our complementary expertise and shared vision for the future servicing of European renewable energy. We look forward to providing class-leading services for our clients in due course.”
Greensolver will be exhibiting at the European Wind Energy Association event in Paris 17th- 20th November, stand number D14.