RES Diversifies Asset Management Business Through Blueshore Acquisition

UK-based RES, has announced the acquisition of Australia based Blueshore, an asset management business with 1.6GW of assets under management.

The move doubles RES’ asset management portfolio in Australia to over 3GW. Blueshore provides commercial, technical and financial asset management services for solar and wind energy assets alongside the provision of portfolio management services to investors in the Australian market. The acquisition brings RES new capabilities, new customer relationships and allows RES to diversify its current presence in the fast-growing Australian asset management market, combining RES’ technical, engineering and value optimisation services with Blueshore’s unique product offering, to provide tailor-made services to optimise project performance plus ensure
compliance.

Grant Harris, RES’ Director of Asset Management, Asia Pacific commented, “We are privileged to have the opportunity to bring the Blueshore and RES Asset Management teams together. We both share a common culture and mission to provide value to our clients through the delivery of innovative products and services that go to the core of maximising the value of operating assets.

Bringing together two highly experienced teams in this dynamic and growing sector enables us to offer the broadest range of solutions for the owners of renewable energy projects.” Mike Rand, Blueshore’s founder said, “The transaction represents an exciting step both for Blueshore and for the Australian renewable industry, with the combined teams set to form a powerhouse of expertise in the management and optimisation of Australian renewable energy assets.”

RES has seen exceptional growth in its support services (asset management, operations and maintenance) business over the last few years. The acquisition sees RES now supporting over 9GW of operational wind, solar and storage projects assets across the globe. RES has delivered more than 22GW of renewable energy projects across the globe. RES employs more than 2,000 people and is active in 10 countries working across onshore and offshore wind, solar, energy storage and transmission and distribution.