Narec - Narec Enters Joint Venture with Ashberg Limited Narec has today signed a Memorandum of Understanding (MOU) with Ashberg Limited to develop an insurance and finance proposition for...

Narec Enters Joint Venture with Ashberg Limited

By Sheena McGeorge | 05/08/10 | In Narec

Narec Enters Joint Venture with Ashberg Limited

Narec has today signed a Memorandum of Understanding (MOU) with Ashberg Limited to develop an insurance and finance proposition for the global renewable industry.

With a focus on accelerating the commercialisation of renewable energy technologies and Narec’s intellectual assets, the strategic joint venture will be built on four business pillars:

1. Consulting - to support early stage renewable technologies and projects of strategic importance to Narec and the global renewable energy sector.

2. Corporate Finance - to bridge the equity funding gap and support the global deployment of renewable energy business ventures,utilising existing technology and project financing vehicles.

3. Fund Management - to support the commercial deployment of renewable energy business start ups; combining a source of capital with the technical expertise afforded by Narec.

4. Insurance - to develop a business line around the renewable energy insurance sector through the provision of independent insights into technology and market developments. This will allow risk to be more accurately priced.

Through this joint venture with Ashberg, Narec will be in a strong position to encourage an increasing flow of public and private capital by de-risking renewable technologies and projects.  This in turn will reinforce UK plc’s position as a world leader within the renewable energy market by providing strategic direction to the industry on a global level.

Combining independent technology testing and development facilities with access to commercial finance, this unique business offering will advance the commercialisation of client projects and intellectual assets.

Narec and Ashberg will now work together over the next six months to develop and roll out its full proposition with a first wave of projects already identified.

For further information about Ashberg please click here.