Renewable energy company RES has developed a value improvement plan (VIP) that it says has helped 33 clean power projects in the UK add an extra £21m in forecast revenue since 2017.
RES is now planning to expand the VIP programme to more asset owners across the globe.
The company said VIP combines its expertise in operations and maintenance and asset management to unlock the extra revenue.
For example, RES worked with a distribution network operator to agree a variation to a grid connection agreement which unlocked an additional £4m by increasing the export availability for one of Aviva’s wind farms.
RES head of asset management from Darren Cook said: “Our experience means we look at options other asset managers simply might not.
“In energy, margins are everything and we know the importance of unlocking that extra value with assets of any size.
“The result, identifying significant additional revenue in a short space of time, is a fantastic validation of that approach – but it just hints at the full potential VIP offers.”
Aviva Investors associate director Freddy Murray said: “Operating an asset to such a level of efficiency that you unlock even a fraction of extra revenue is to be welcomed, but that RES go that extra mile to unlock the true potential of our renewables installations makes them a very valuable partner.
“The benefits of RES’ VIP programme are multi-layered; for asset owners, it makes renewables a more appealing and rewarding investment, which in turn benefits consumers as we continue to transition towards a cleaner energy future.”