United Kingdom-based renewable energy investment and asset management specialist Bluefield Partners has chosen Sydney for the headquarters of a new Australian subsidiary, Blueshore.
Minister for Trade and Industry Niall Blair said Blueshore was an independent renewable energy company specialising in technical and commercial management services for renewable energy projects, with a focus on asset owners and investors.
“It’s fantastic to see Blueshore choose Sydney as the location for its Australian base which is testament to our city’s position as Australia’s financial and professional services centre,” Mr Blair said.
“The NSW Government through the Department of Industry has helped secure this investment by working with Blueshore to provide market information and introductions to potential partners, clients and other industry stakeholders.”
Blueshore Managing Director Mike Rand said the company has established its Australian base in Sydney to access strong opportunities in both solar and wind renewable energy markets, where it has seen a strong emergence of sector developers and investors.
The company sees potential to grow its Sydney presence to around 20 staff over the next two to three years.
“Australia is undergoing a dramatic energy transition as cost reductions have made renewable energy technologies a least cost source of generation. The economics and capabilities of this clean and efficient technology present a great opportunity for Australia, but it is critical to the sector’s future that asset operations are underpinned by strong professional management to secure the future quality and reliability of these assets,” Mr Rand said.
“Blueshore has been founded on the strong reputation and track record of our European parent company, providing comprehensive asset management services for over AUD$1 billion of renewable assets, including a large portfolio traded on the London Stock Exchange. Blueshore aims to bring this professionalism and experience to support the growth and eventual dominance of clean renewable generation sources in the Australian energy mix.”
Mr Rand said Blueshore is positioned to provide asset management services through the full lifecycle for renewable energy projects, from pre-construction review through to lifetime operation.
“This includes technical management, stakeholder management, interface with network service providers, regulatory compliance, national energy market participation, supervision of operations and management, engineering procurement and construction, and health and safety and environmental compliance.
“We also offer full financial and administrative management functions.
“Our aim is to help our renewable energy clients increase production and revenues, reduce operating costs, and ensure operating, regulatory and contract compliance.”
NSW Minister for Energy and Utilities Don Harwin said: “The NSW energy market is evolving fast and we are focused on creating an investment environment that caters for the range of technologies that will power the future.
“Our recent launch of a NSW Transmission Infrastructure Strategy is about building a network of the future that allows companies to connect to our energy grid.
“I look forward to seeing more companies like Blueshore arriving in NSW to look after generators.”