Giles Redpath, CEO
In recent years, many states, cities, utilities, and businesses took the initiative to pursue de-carbonisation plans and address climate concerns. But with the onset of the COVID-19 Pandemic and the consequent recession non-renewable energy resources have fallen in popularity among a significant number of investors as green infrastructure development in the economic stimulus proved resilient. Today, the risk shouldered by renewable energy investors a decade ago has dropped alongside plummeting technology costs with rising capacity and usage factors. However, the continuing decrease in cost-trends alone is not sufficient to shelter renewables projects from several challenges such as the slow-paced economic recovery, excess pressure on public budgets, and the energy sector’s financial health add-on the current policy uncertainties and financial constraints. For instance, in the UK, the Nationally Significant Infrastructure Project (NSIP) planning process is robust but expensive.
On the other hand, whilst it is more accessible for developers to bring forward local renewable energy planning applications, local authorities lack support for solar applications. Supportive federal actions could help progress timelines for expansion into renewable energy technologies and play a more significant role in powering a green economic recovery. Hence the government needs the guidance and expertise to implement renewable energy applications. This is where, Hive Energy, has carved a niche for itself.
Founded in 2010 with anticipation of the UK solar market expansion, the company built on its expertise in project development and financing to grow its substantial portfolio and lead the country’s solar revolution. In a recent acquisition of the sustainable energy generation company Ethical Power Group, the company has progressed to a fully integrated clean energy provider across the circular economy globally. The partnership of Hive Energy and Ethical Power will facilitate over 2GW of low-cost and large-scale solar projects.
“Following our success in the solar energy development and delivery, the company’s mission is to use their expertise from the industry to explore endeavors in the circular economy, green hydrogen, and biomass pelletisation ahead of its competitors,” explains Giles Redpath, CEO of Hive Energy.
Hive Energy has deployed £1.23bn of capital to deliver clean energy solutions across the green and circular economies. Due to Spain and South Africa’s strong load factor across solar and onshore wind generation, the company has identified them as the ideal locations and markets to produce Green-hydrogen and invested a substantial amount to set-up production. Hive Energy has also set up an incubator to develop, train, and inspire entrepreneurs to find and invest in the emerging technologies for a zero-carbon environment with four areas of focus - plastic waste, packaging, biomass and emerging green technologies. “The aim of the incubator is to identify aspiring sustainability professionals with an intellectual curiosity to achieve clean futures and provide them with training to become an expert in all stages of the investment process,” states Redpath. Hive Energy generated 800 jobs in one of South Africa’s most poor areas by funding establishing the largest wood pelletisation plant in Africa, ‘Coega Biomass Centre’. Also, the company has also invested in solving problems on the consumer side and increasing conscious consumerism through its investment in MyDD Points. A conscious consumerism initiative, MyDD Points is a digital loyalty program for independent businesses to strengthen their bond with local customers and drive the ‘Buy Local movement’ reducing air miles for food and consumer goods.
"Following our success in the solar energy development and delivery, the company’s mission is to use their expertise from the industry to explore endeavours in the circular economy, green hydrogen, and biomass pelletisation ahead of its competitors"
Hive Energy demonstrated the credibility of delivering large-scale renewable energy at zero cost to the consumer and has resulted in more substantial commitments from Government to support the delivery of future schemes such as ‘Contracts for Difference (CfD) support programme’. Positioned as the premier independent solar developer in the UK, completing over 30 solar projects recently, Hive Energy received unprecedented consent for its largest solar park. At 350MW, Cleve Hill Solar Park provide clean electricity to 91,000 homes and also includes consent for the largest battery storage in the world. Once construction begins, Cleve Hill Solar Park will play a key role in the UK’s green recovery. “The threat of climate change has driven Hive Energy’s strategy to identify sustainable solutions across the circular economy for a zero-carbon environment,” concludes Redpath.