A government may be keen to deploy renewables, but attracting investment requires strong strategy. NRP assists HM Government of Gibraltar to realise its renewable energy ambitions. Starting with a techno-economic modeling exercise, we have helped create a roadmap of actions across finance, policy design, project development, and grid integration. We are now engaged in facilitating the procurement of commercial-scale rooftop solar PV.
It is in emerging markets that new energy opportunities (as well as challenges) are sometimes greatest, particularly where there is no existing grid and the opportunity may arise to leapfrog conventional approaches to energy. NRP works with USAID, Deloitte, the Regulatory Assistance Project and the International Energy Agency to evaluate challenges and risk in energy market design and system operation in these new markets.
NRP works with investors including Regent Capital, and Local Partnerships to originate energy investment projects, including grid-connected energy systems and behind-the-meter assets on and around property projects. The technologies used in these projects are particularly diverse, and the revenue streams they produce several and evolving, as energy markets develop to operate with ever greater shares of wind and solar energy. Investors can benefit from multi-decade, index-linked returns carrying varying degrees of market exposure and risk.
Property and energy are converging. This important trend is being driven by the rise in local energy capacity (e.g. solar), consequent need for local flexible power to manage intermittency, and the fact that both are increasingly deployed on and around buildings. This convergence brings new energy-based revenue for property investors. For example, NRP is working with Augur Group and Regent Capital on a major property redevelopment – the Circus and The Department project – in Liverpool city centre, and with Dundee City Council on its Waterfront Project.
Around 40% of UK installed capacity is local, mainly solar and wind. Once passive, energy consumers are now producing electricity themselves, and heat networks harvesting local heat for sale are likely to be critical in the drive for deep decarbonisation of energy. These forces are driving the emergence of new Local Markets within national markets, for the trade of energy and flexible balancing services. We work with foundations, utilities, industry associations and large energy users to identify the right market designs and technology options.