What we do

Established in 2016, Rencore Energy is a renewable energy developer with offices in the UK, France and Mali.


Rencore’s focus is on projects that support the energy transition in Africa; including wind and solar photovoltaic generation, storage & transmission. We originate projects, and also work with local developers and sponsors to support and finance development across the continent.


We are passionate about the need to utilise locally available and abundant natural resources to provide clean, secure and affordable energy. We strongly believe in working with local communities and stakeholders, providing significant inward investment and employment opportunities.

We pride ourselves in conducting our business in an environmentally responsible manner and will continue to strive to support Africa's journey to a more sustainable future.

 

 

The opportunity

 

Wind and solar energy are now competitive with new fossil fuel generation in an increasing number of locations due to declines in component costs and to improvements in generation efficiency.


Such cost reductions are particularly welcome in emerging economies where electricity costs are high, where there is a shortage of generation and where renewable energy resources are plentiful making it directly competitive.


Many African countries see this opportunity to bring new, clean electricity generating capacity online to meet rapidly rising demand and to improve reliability. Private investment and the deployment of renewable energy technologies are encouraged to achieve this desired growth more quickly.

 

There is a significant amount of finance now seeking a limited number of quality renewable energy projects in Sub-Saharan Africa. Rencore aims to plug that gap by increasing the pipeline of investment grade and bankable projects, with focused funding and the provision of skills in the development phase of the projects.

 

 

 

Will Hopkins

 

Founder & Director

Will Hopkins was Commercial Director of one of the world’s largest pure-play independent renewable energy companies, opening opportunities in Turkey, Egypt, South Africa and Scandinavia. Having delivered over 1.5 Gigawatts (GW) of renewable energy transactions with a value of over USD 2.5 billion, through his company Venturi Renewable Energy he continues to advise leading European funds and IPP’s on acquisitions and structuring of projects for finance. He is a graduate of Imperial College London.

Oisìn Brady

Founder & Director

Oisin Brady was partner of a top-three renewable energy advisory firm, with involvement as lender’s and investor’s engineer in more than 10 GW of closed deals representing USD 17 billion investment. In addition to Rencore Energy he currently fulfils a range of expert roles on behalf of advisory firms and government. He provides non-executive support to two of France’s leading developers. He is a graduate of Cambridge University.

Mike O'Neill

Director

Mike O'Neill is a former founding member and CEO of private equity backed Element Power. Element Power was a leading global energy developer and operator covering wind, solar, storage and interconnection projects before its successful divestment. With over 25 years management experience in the renewable energy sector and an ACA background, he has overseen all aspects of activity in high growth international development businesses. His former energy sector experience was with Renewable Energy Systems (RES), where as Commercial Director he helped steer the company from a small UK developer to a leading international IPP, with over 4 GW developed and built in numerous countries.

 

 

Jeannot Schlernitzauer

 

Consultant & Developer

A farmer by background, Jeannot Schlernitzauer successfully developed wind farms in France on behalf of Perfect Wind and then EDPR. He went on to develop West Africa’s largest wind farm project – the 158 MW Taiba Ndiaye project in Senegal. This ground-breaking project, represents an investment of over USD 350 million.

Foussény Kone

Development Support

Foussény Kone has extensive experience covering several projects in Mali, including hybrid (solar-diesel) energy plants. He led the solar street lighting works project under the Support Project of the Urban Communes of Mali for the city of Kayes, and has experience of integrating the issue of climate change into municipal development programs (PDESC) through the Flood and Climate Risk Management Project (PGRCI). Co-founder and director of Tianke sarl, Foussény is a development project planner and web developer, creating web applications for solar projects. He holds a Masters degree in engineering physics (specialised in renewable energies) from the University of Science and Technology of Oran in Algeria.


Nancy Sun

Mergers & Acquisitions Lead

Nancy Sun has 6 years banking experience in Corporate Trust as Transaction Manager with various international financial institutions in London and prior to that she gained three years of Corporate Finance transaction experience from various leading international law firms in London and Shanghai.  Nancy is a graduate of University of Oxford and London Business School.

 

Misha Kolosov

Lead Financial Analyst

Misha Kolosov has over 20 years' experience in financial management and investor relations. He has worked on a number of international projects including IPOs and debt financing,, and has modelled and valued multiple renewable energy sector projects across Europe and Africa. Misha holds an MBA in finance from the Grenoble School of Management, France.

 
 

The core value Rencore Energy provides is to invest in and to manage the development of renewable energy projects to an international financing standard. Time from opportunity identification to start of construction is typically from 4-7 years depending on technology.

Rencore understands the steps necessary to de-risk projects through the development period, whilst designing projects to maximise value and deliver low-cost energy. Once a project has obtained all rights and permits required to build, own and operate, it is fully developed and ready for financing and construction.

It is at this stage that Rencore brings in the necessary third-party capital to execute the next stage of the project’s delivery, through construction and into operation.

 
 

Rencore’s project development team works closely with local and international partners to provide a fully integrated solution from site selection to construction and generation including:

  • wind and solar resource assessment

  • project design and layouts

  • project siting and permitting land agreements and grid connection contracts

  • securing power purchase agreements (PPAs)

  • financing

In coordination with the local stakeholders Rencore is committed to each of its projects making positive local impact. Benefits to the local community can include:

  • contribution to social projects in the vicinity of a site

  • training in new skills and employment

  • improved local infrastructure such as roads and access to electricity

For the investment community:

  • we provide access to a large pipeline of well-structured bankable projects

  • we have a strong understanding of geopolitical, legal, operational, natural and financial risks

  • an experienced project team with technical, banking, project development and energy sector experience

 

A key project for Mali’s energy transition

Rencore team with His Excellency, Lamine Seydou Traore, Minister of Mines, Energy and Water

 

Rencore identified the Kayes site as one with excellent potential for wind energy generation, having recognised the need for Mali to diversify its use of natural resources for energy security and cost reduction.

In conjunction with the Malian government, Rencore commenced the greenfield development of the project in 2017. Since then, the Kayes site has proven to be one of the optimal locations in Western Africa for harnessing clean wind energy at lowest cost.

  • The Rencore team brings decades of professional experience in developing wind energy projects globally

  • Rencore prides itself on the involvement of a broad range of stakeholders and creating positive legacies for local communities

  • Working in cooperation with the Ministry of Mines, Energy & Water, Energie du Mali and relevant governmental departments

  • Rencore is honoured to have Proparco providing grant funding toward the environmental studies of the Kayes project

  • Project development is undertaken in a socially responsible way to the highest international financing standards 

PROJECT DETAILS

Project : 151.2MW wind power plant

Location : Kayes region, Mali

Technology : 27 no. wind turbines (model tbd)

Hub height : 125m

Rotor diameter : 162m

Connection point : Poste de Kayes-Médine (8km from site)

Connection voltage  : 225kV

Start of construction  : Q4 2023

Target commissioning : Q4 2025

Economic lifetime : 30 years 


Energy

Up to 12% of the expected national electricity demand by 2025

€300M

Bringing direct investment into Mali’s economy

Sustainability

Transitioning Mali’s power sector to low carbon sources

Competitive Power

Reducing the cost of energy to promote economic recovery and reduce fuel poverty

Security

Increases the security of energy supply to industry and consumers in Mali

Employment

Job creation and economic benefits throughout construction and operation.