The private equity firm, SIREC ENERGY CAPITAL PARTNERS S.A, who invests in environmental sustainability projects, and MES ENERGY S.A, a subsidiary of Mesogios Group, who has expertise in energy saving solutions (ESS) and renewable energy sources (RES), have jointly established ESCO PARTNERS S.A., in order to develop rooftop PV systems using net metering for industrial and commercial applications for immediate energy consumption and zero transmission waste. In addition, ESCO PARTNERS S.A. is set to develop alternative systems for the cogeneration of electricity and power (Cogeneration of Heat and Power, or CHP) for industrials. In the CHP systems the fuel consumed generates additional energy in the form of water or steam plus electricity which is redistributed through the power grids or kept in the local facility through net metering. The activities of ESCO PARTNERS S.A. are fully aligned with the recent announcement of European Commission, REPowerEU which further promotes Renewable Energy in an effort for the EU to become independent form Russian import of fossil fuels.
The usage of Net Metering, as stipulated by Greek and European regulatory frameworks, ensures that the energy produced through CHP systems/RES covers the requirements of local facilities first, with excess supply then going to wider energy grids for future consumption. The user offsets the energy produced and consumed with the energy provider. In this way energy optimisation is achieved through CHP systems and renewable energy sources developed by ESCO PARTNERS.
ESCO PARTNERS S.A. is currently in discussions with large organisations to develop these systems for industrial and commercial spaces, warehouses, and big box retailer areas. The company is providing end-to-end solutions that include design, licencing, procurement and installation of the systems in less than twelve months. In addition, the company undertakes the maintenance and service of the systems throughout the full operating time.
Moreover, ESCO PARTNERS S.A. will develop such systems at no extra cost to the customer. For this reason, the company has secured €20m to cover the financing of the investments whilst generating revenue from energy sales. The strategic plan includes development and generation of 30 megawatts (MW) over the next three years.
High energy prices and the need for clean energy solutions make CHP and Photovoltaic panel systems an excellent choice. Rooftop PV systems in particular have two major advantages: a) do not require additional land allocation b) energy can be generated where it is consumed, avoiding energy wastage during transit, leading to major financial benefits.
The Managing Director of MES, Kostis Terzis commented:
ESCO PARNTERS S.A. secures the capital for the development of innovative sustainable energy projects that are critical to the generation of cost-effective green energy.
The Chairman of SECP, Dionissis Alissandratos commented:
The private equity capital provides us with the flexibility and agility to support the development of innovative and environmentally friendly projects and provide solutions for major environmental issues, like the production of low-cost energy that will in turn generate
higher yields to long term investors.
About MES ENERGY S.A:
MES ENERGY S.A is a subsidiary of Mesogios Group, who have expertise in the development and construction of renewable energy sources and efficiency systems. The company has managed over 500 MW of green energy systems over the last years whilst managing projects totalling 35 MW. Construction in renewable energy and efficiency projects exceeds 30 MW.
About SIREC ENERGY CAPITAL PARTNERS:
SIREC ENERGY CAPITAL PARTNERS is an independent Private Equity Firm, managing the European Sustainable Investment Fund (EUSIF) with € 50 m. assets under management and a focus on investing in environmental sustainability and energy efficiency projects. EUSIF was established in 2021, but the team has a track record of more than € 400 m. of executed investments in projects in energy efficiency and renewable energy production across seven European countries.