Barking Riverside (BRL) is an SPV company set up by the GLA and L&Q Homes to deliver a new mixed-use development of over 10,000 new homes as well as 60,000m2 of commercial, retail, hotel and education facilities in a brand new neighbourhood being created alongside 2 km of Thames river frontage at Barking Riverside London and is one of the most ambitious and important new developments in the UK.
The development plays a key role in the regeneration of this key area of London. The properties to be built will form the base heat and potentially cooling energy demand of a new bespoke Energy Services Company (ESCo).
Ener-Vate was initially engaged to assess the potential opportunity for Barking Riverside as an entity. Developments as large as this have an inherent value to the main developer, Ener-Vate worked closely with the client to evaluate the best method of delivery to suit the developer and most importantly the customers of the scheme.
Once a strategy was agreed and value assessed, Ener-Vate engaged with the market for the provision of ESCo services to BRL. Using our deep knowledge and understanding of the ESCo market we worked closely with BRL to;
- compile the tender document
- act as main contact for the duration of the return period
- evaluate and interview the applicants
- SSE appointed as preferred ESCo partner
Since appointment, the scheme has continued to develop. Masterplans for the larger schemes alter and therefore the ESCo needs to adapt to meet the updated position.
Ener-Vate remained as client advisor in the development of the ESCo structure through the contractual suite. We have also continued to develop the financial modelling with the client and the ESCo to mitigate risks for both and ensure good service and competitive cost to the customers.