Low-cost, clean and reliable power supply is essential to the GFG Alliance’s GREENSTEEL and GREENALUMINIUM model for low-carbon industrial production that is both economically and environmentally sustainability. As a result, SIMEC’s priority is to grow its capacity to generate green energy for industry.
Through acquisition and new development, SIMEC is steadily building up its renewable energy portfolio in the UK and has set a target to become the country’s largest green power generator by 2021 with 1 Gigawatt of capacity. Existing and pending assets include hydro, wind, biodiesel, marine, waste-to-energy and other energy technologies.
In December 2018, SIMEC agreed to acquire the renowned international hydro-power developer and operator Green Highland Renewables in order to expand its portfolio of hydro assets in the UK and overseas. Moreover, SIMEC Energy has reached a ground-breaking agreement with global tidal power developers, Atlantis Resources Plc, which will create a new force in the renewable energy market. The new company SIMEC Atlantis Energy plc has a strong pipeline of flagship green energy projects. This includes the development of the trailblazing Meygen tidal stream project in Scotland and the Wyre Estuary tidal barrage project in Lancashire. The new entity would also look to acquire other SIMEC Energy power generation assets in due course and partner with SIMEC in developing new power assets.
SIMEC Energy is also planning a 168MW wind farm at Glenshero on its estates in the Scottish Highlands.
The company also has an extensive programme of renewable energy capacity investment in Australia where it has created a new enterprise, along with market-leader, ZEN Energy, to develop extensive solar and pumped storage hydro power, particularly in South Australia, where power is at a premium.