The latest issue of Solar Business Focus is out now, including insight from RenEnergy’s founder and Managing Director, Damian Baker.
This months lead feature focuses on ‘Brits Abroad’, the UK based solar companies that have looked overseas to develop and expand their business. Of course, RenEnergy is no stranger to international expansion, having developed PV projects from the Arctic to Australia, and opening an office in South Africa back in 2012.
As the PV market takes its ever changing course in the UK, many solar firms are looking abroad for new investment opportunities, and some semblance of stability. Whilst there are obviously inherent risks and challenges to international expansion, but Damian believes ‘well-structured, well-managed, well-financed UK-based businesses who want to do it for the right reasons. There are opportunities for them’.
We certainly feel that the move has been a positive one, as the company’s international footprint goes from strength to strength. However ‘take it from me, it’s not a route to fast bucks’ says Baker.
It’s sometimes not as straightforward as it might appear at first glance. “It’s not all rosy, we invested some money into a project in Brazil that hasn’t gone so well,” Baker explains, adding: ‘If you take the pure economic factors – how much sunshine does it get, how much does energy cost, what’s the supply situation – they’re a pretty good guide but there’s lots of countries out there that have major energy issues… how comfortable would you be putting your money there? Look at the Middle East. Massive solar resource, big energy issues but you wouldn’t be too happy sticking a load of solar in Syria at the moment’.
The feature was originally posted in Solar Business Focus in March 2016. To read the full feature or subscribe to the publication click on the cover image or HERE