The total accessible market for UK’s energy efficiency services is estimated to be £6.4bn by 2020. To capture the potential for low-carbon, energy efficiency, and renewable solutions in the UK, Europe and North America, we partnered with EnergyPro Ltd, a UK-based advisory company that consults on energy efficiency projects. The resulting joint venture, EESL EnergyPro Assets Limited (EPAL) aims to accelerate investments in energy and resource efficiency in both public and private sectors. EESL maintains an 80 percent shareholding in EPAL.EPAL’s investment and acquisition portfolio:
We have committed to invest £35m equity and deploy £150m capital through EPAL into the following energy services business opportunities in the UK, EU and North America over the next 3 years:
Leclanché is a large energy storage solution provider that designs, develops and manufactures customized energy storage solutions for electricity generation and transmission, mass transportation, heavy industrial machines and specialty battery systems.
In partnership with Leclanché and development partner Deltro Energy, EPAL has invested in Canada’s first utility-scale energy storage project, the Battery Storage Project. The $25-million, 28 MW/14MWh project will be the first significant utility-scale energy storage initiative to address the Ontario grid’s energy intermittency issues. It will provide services to Independent Energy Systems Operator (IESO), which oversees and manages the power grid of the state of Ontario, and Toronto Hydro, the largest municipal electricity distribution company in Canada. Upon the project’s completion, Leclanché’s multi-megawatt battery storage system will be one of the largest in the world.
In March 2018, we acquired Edina, the leading supplier, installer and maintenance provider for combined heat and power (CHP), gas, and diesel power generation solutions in the United Kingdom. This first-of-its-kind acquisition by an entity under the Ministry of Power enables us to expand our trigeneration capabilities in the UK market, where CHP technology’s contribution to the UK energy portfolio is expected to double between 2015 and 2020. We will expand Edina’s global footprint to a larger customer base across international markets, including India. Our proficiency in aggregation-based business models will underpin our expansion of trigeneration across international borders. This will be supplemented with expansion and diversification of Edina’s products and services with energy efficient technologies. Edina’s expertise in turnkey Engineering, Procurement and Construction (EPC) projects will enable us to achieve more transformation, more innovation, and more transparency across geographies