Edina specialises in the engineering, installation and after-care support of low carbon gas-fired Combined Heat and Power (CHP) plants, fast response balancing peaking plants and mission-critical standby diesel generation. In partnering with Capitas Finance it aims to drive forward the implementation of its solutions thanks to its bespoke funding options.
Edina supports the growth of decentralised low carbon power generation, helping businesses improve their energy efficiency, cost savings, power resilience, and reduce their carbon emissions in line with organisational and national net zero targets.
With growing interest in its Combined Heat and Power (CHP) solutions, Edina found that a lack of access to finance was the biggest obstacle preventing customers from making the investment. To solve this, Edina sought to partner with an energy finance specialist that could break down this barrier and help it generate new business opportunities.
Having met Capitas Finance at an industry exhibition and conference, the team at Edina were impressed by its financing solutions for carbon-conscious businesses and carried out a thorough assessment prior to making a final decision on any potential partnership.
One of the things that really stood out for Edina was Capitas’ ability to provide a range of products that suited the size of the projects it was working on, as well as their strong understanding of the market and end-user requirements. Alongside Capitas’ professionalism and flexibility, the friendly nature of the team meant Edina felt confident when they were dealing with clients.
As a result, Edina is now in a position to help its customers take advantage of the long term commercial and environmental benefits of its on-site power generation plants, delivering energy projects on a ‘cash neutral’ or ‘cash positive’ basis.
The first project of the partnership demonstrates the partnership’s benefits for Edina and their customers.
Edina supplied and installed a 2MWe power generation plant for a leading supplier of plastic packaging that would allow them to reduce operational costs at its facility in the North-West of England. The customer is committed to creating a positive environmental impact by streamlining its operations and minimising natural resource usage to help the world can become a little cleaner.
The power plant provided by Edina consists of an MWM manufactured TCG 2020 V20 reciprocating gas engine which is housed within an acoustically treated and weatherproof enclosure. The plant produce electricity close to the point of use, reducing the customer’s reliance on the electricity grid – a key advantage as costs continue to rise. Edina also designed the plant to make use of the waste heat captured during the electricity generation process. As a result of the installation, the customer could also significantly benefit from carbon exemptions by producing good quality CHP which will help meet sustainability targets and expedite the return on investment of plant.
For Edina’s customer, Capitas provided an off-balance sheet Power Purchase Agreement (PPA) thus enabling them to purchase their energy at a greatly reduced cost, helping them to vastly resuce operational costs. As the costs are also linked to Consumer Price Inflation (CPI) over the next 15 years, it also reduced their exposure to energy price inflation.
Adam Bloom, Head of Sales at Edina, comments of the partnership:
“Working with Capitas provides the end customer with a far wider range of funding options. This means they can choose a commercial package that is best suited to their individual needs. Yet Capitas offers more than just funding for energy efficient projects. They also provide assistance with client-side activities, such as planning and connections – it’s a total solutions package that allows our customers to concentrate on the day to day running of their business. The biggest challenge, as with any two businesses coming together, is understanding how each other works and what’s important to them. We’ve learnt a lot about each other during our first project as a partnership, and these lessons will enable us to share even greater success in the projects that follow.”
“By working in partnership with Edina, we’re helping boost the deployment of low carbon power generation solutions,” says Capitas Finance CEO Darren Riva. “As a specialist in financing energy solutions, we’re committed to helping our partners widen their offering to their customers, particularly those who are actively seeking for ways to reduce operational costs and carbon emissions. Our partnerships are based on creating profitable, long-term relationships that help companies, such as Edina, win more business. By providing a wide range of bespoke funding solutions, and demonstrating the savings that can be made, we can break down the barriers to investment and catalyse the uptake of green technology solutions.”
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