“Our focus on acquiring relatively new assets with proven and reliable technology will result in a portfolio of renewable energy plants with an attractive risk return profile.”
SUMMIQ – a Green City company
Green City is a well-established energy and mobility transition company and has connected wind, hydro and solar power plants to date with more than 245 MW output and an investment volume of over 500 million Euros to the grid. Our roots and our concern for a climate-friendly energy supply are the same. But while Green City, with its five business areas, covers a broad business area, at SUMMIQ we specialise in the operation and marketing of the energy generated. The time has come to take the energy revolution to a new level.
Our core business is the generation and marketing of green power. Due to our origin we can draw on more than 20 years of experience in project development from Green City.
Business model and strategy
We acquire projects that are either ready-to-build or already in operation. Operational maintenance services for the plant portfolio are provided by long-term partners in order to keep costs and structures lean.
We embrace a cooperation approach and will enter into strategic partnerships in order to achieve our objectives. These are mainly cooperation agreements with project developers to secure access to power plant projects. Such an agreement has already been concluded with Green City AG to enable SUMMIQ to invest in an existing project pipeline of several hundred MW capacity until 2021.
As a reliable cooperation partner, Green City AG has committed itself to ensure that we have an immediate and preferential access to the steady pipeline of projects. Moreover, the cooperation provides us with access to the Green City Group’s knowledge and experience in operating and administering renewable energy plants. As a result we control the value chain from asset acquisition to marketing of produced electricity without taking risks at an early stage of development.
The respective investment decision for each individual power plant will rest with the management of SUMMIQ.
A VPP establishes a digital network of power generating assets in combination with an energy storage infrastructure. The planned production of a project connected to the VPP is automatically adjusted to the weather forecasts, the expected prices on the short-term markets as well the change in short-term consumption patterns of potential PPA counterparts or other offtakers. A central control system is then able to monitor, forecast, and dispatch the networked units, allowing it to control the output and enabling the most efficient use of production and power deliveries.
In addition, VPPs help to decrease transaction costs and balancing costs. Transaction costs on organised markets can be reduced by netting the positions such as the excess production and the production gap of individual installations. Balancing costs result primarily from forecast deviations for which compensation payments are to be made in accordance with regulatory requirements.