“SUMMIQ stands for collective intelligence in tomorrow’s energy market.”
The generation of electricity from renewable sources is expected to grow fast. This is not only due to the Sustainable Development Goals agreed on 2015 in Paris, but also because they bring with them all the decisive factors for the transition to a new energy age: they are decentralised in structure and can be used flexibly. They thus complement each other.
We want to efficiently leverage the resulting potential. We have the opportunity, the know-how and the experience to build up a gigawatt portfolio of modern generation facilities and market it in the best possible way.
Our broad network in the renewable energy and banking industries allows us to gain insight into developments and acquisition opportunities. Due to our longstanding experience and our dedication for the renewable energy market, we are not only able to operate our wind or solar parks over their economic life, but to develop and scale new marketing activities as well.
By entering the electricity market, we aim to become a fast growing independent and fully integrated European green power producer with predictable long-term cash flows and a product with increasing demand: renewable power.
Value Chain Controlled by Summiq
We will control the value chain from project acquisition to the marketing of produced power. By outsourcing development activities we substantially reduce the risk profile and shift the respective risks to third parties. We also outsource the technical operation and the maintenance of the projects. By these measures we keep our organization lean and efficient. This structure allows us to focus on the operation of the power plants and the marketing of the produced electricity by making use of digital technologies and implementing a virtual power plant concept.
Our European approach on energy transition
We have decided to operate in four core markets: Germany, France, Italy and Spain. In our opinion, all four markets offer stable framework conditions to drive forward the expansion of renewables. In addition, all four countries are committed to the sustainable development goals agreed by 193 countries in 2015 as a result of the United Nations Framework Convention on Climate Change (UNFCCC) World Climate Conference in Paris. Relatively high expansion rates in wind and PV generation capacities are expected in all four countries in the coming years. Given these conditions, we consider the growth potential in these markets to be of good value.
In Germany, the overall share of renewable energies is to be increased from currently around 32% to up to 40-45% in 2025 and up to 65% in 2030. Since Germany also wants to phase out coal-fired power generation by 2038, the pressure to expand power generation from solar and wind power plants is also increasing.
The French government intends to expand renewable energy capacity by around 34% in the low case or just under 48% in the high scenario by 2023. A large part of this growth is to be achieved through PV and onshore wind. In addition, France will reduce the share of nuclear energy in electricity generation from around 75 % to 50 % by 2025. This gap will also be filled by investments in solar and wind energy.
In Italy, the share of energy generated by wind and PV in gross final consumption is to be increased from currently around 14.5% to up to 30% in 2030. In January 2019, the Italian National Integrated Plan for Climate and Energy 2030 was presented for implementation, which contains details on the future expansion of renewable energies.
In Spain, PV and onshore wind generation accounted for 24% of total electricity generation in 2018. In February 2019, the Spanish government published a draft of its national integrated energy and climate plan aimed at installing 120 GW of installed renewable energy capacity by 2030. According to the plan, Spain will aim to have 100% renewable energy in the electricity sector by 2050, in line with the EU’s climate-neutral strategy.
*Sources: Agora Energiewende (2018), the respective national authorities