SOLAR PV

Solar Power is arguably the cleanest and most reliable form of renewable energy. It is also one of the oldest technologies - the photovoltaic effect was discovered in 1839 by the French experimental physicist Edmund Becquerel. Since then over 400GW of Solar PV has been installed globally, with the UK being the 6th largest market. Solar PV has many advantages with predictable outputs, few moving parts, an abundant 'fuel source' all the while being incredibly flexible from a commercial perspective. Many projects we have advised on result in the crystalisation of the 'energy value' to an occupier, where the capital cost of the project is less than value of the energy to an occupier during their lease term. This provides opportunities for landlords and occupiers to collaborate and capture that value in a variety of ways.

Dixons Carphone RDC, Newark | case Study

CHALLENGE

As part of their sustainability strategies both the Landlord, LondonMetric, and the Tenant, Dixons Carphone, have ambitious targets in place to reduce portfolio energy consumption and emissions.  We provided a singular solution which ensured London Metric met their requisite carbon reduction while seeing a financially acceptable return. This enabled Dixons Carphone to show a significant decarbonising of their power supply.

SOLUTION

After analysis of Dixon Carphone’s energy consumption, a system size of 1MW was determined to be optimal given the zero export grid connection offer from the DNO.  A technical and financial feasibility was undertaken to identify which Power Purchase agreement level would generate the income for LondonMetric to hit internal financial return targets also ensuring added value to Dixons Carphone.  Syzygy then varied the existing lease terms and agreed commercial terms before producing the technical specification and managing the construction through to completion for LondonMetric.

OUTCOME

  • 25% reduction in Dixon Carphone’s annual grid consumption
  • 500 Tonnes of CO2 saved annually
  • Long term warranties and maintenance agreement
  • Financial return for LondonMetric ahead of target IRR
  • Higher onsite generation than current planning requirements
  • Improved EPC rating

White rose shopping centre, Leeds | case Study

CHALLENGE

Landsec actively seek to reduce grid energy consumption with a target of reducing emissions by 80% by 2050. The common parts at White Rose consumed over 2,000,000kWh of electricity every year.

solution

Using power consumption analysis and our proprietary PV sizing tool we recommended a system size of 785kWp across five areas with two Landlord distribution boards, fed by a single mains supply.  A financial and carbon assessment was undertaken to indicate the project outputs prior to making a capex commitment.  After approval from Landsec we  produced a technical specification and issued a tender pack to a panel of contractors before managing the project through to practical completion.  The energy generated by the system now feeds directly into the common parts to reduce the daytime grid demand.

outcome

  • 785kWp Installation completed in August 2017
  • Largest solar array at a retail site in the UK
  • Generating 680,000kWh per annum
  • 22% reduction in grid energy consumption
  • Save 335 tonnes of CO2 annually and 7,700 tonnes over the next 25 years

Gunwharf Quays, Portsmouth Harbour | case Study

challenge

Land Securities own the largest underground car park in Europe which, due to health and safety reasons, needed to be lit 24/7. They were concerned about electrical consumption on one of their flagship retail assets and therefore wished to reduce grid consumption and decarbonise through embedded generation.

solution

Syzygy undertook a site survey and analysis of the existing energy consumption. Working with leading contractors to develop a ground-breaking framing design to minimise the load on the existing light-weight roof. The project resulted in a 250kWp installation being installed in July 2012.

outcome

  • 250kWp roof mounted installation completed in July 2012
  • The largest shopping centre installation in Europe at the time
  • Reducing grid consumption by 25%
  • Consistently performed ahead of target since 2012

Biffa Waste Transfer Station, Edmonton | case Study

challenge

Biffa one of the UK’s largest waste processing businesses, had high on-site consumption. They wished to reduce their overall carbon footprint through working in collaboration with their landlord to future-proof their building.

solution

Syzygy managed this project from inception through to completion. A key element of this was negotiating with Biffa on Aberdeen Asset Management’s behalf and importantly, providing Aberdeen Asset Management’s legal team with a simple leasing structure that has successfully been used on over 30 landlord funded solar pv projects on ‘FRI’ leased assets. Both Aberdeen Asset Management and Biffa worked in close collaboration throughout the process, which saw 250kWp of solar pv being installed in November 2015.

outcome

  • 250kWp installation completed in Q4 2015
  • 12% of Biffa’s onsite consmuption met from embbeded generation
  • Improved EPC rating
  • Biffa delighted
  • Aberdeen Standard’s fund is generating an accretive income return for their investors