Low Carbon partners with Ben Ainslie Racing to power team HQ
BAR HQ will provide a showcase for clean energy
Low Carbon partnership will power team’s HQ during bid to bring America’s Cup to Britain
Ben Ainslie Racing (BAR) is leading the sporting world in sustainability, in its bid to bring the 35th America’s Cup to the UK.
The sailing team, formed by Olympic multi-gold medallist Sir Ben Ainslie, is announcing a long-term partnership with renewables investor Low Carbon. The partnership will provide the team with clean energy as it develops its 2017 bid for the world’s oldest international sporting trophy.
Low Carbon will ensure the team’s headquarters – currently under construction on the Camber in Portsmouth – is powered by the very latest, high efficiency solar photovoltaic (PV) technology. The initial target is to supply 90% of the team’s electricity power needs, with this improving to 100% once energy monitoring is implemented.
Low Carbon is committed to mitigating climate change by encouraging, wherever possible, the reduction of carbon emissions. Investing capital into renewable energy, the firm’s investment model embraces solar PV, concentrated solar power, wind and bio-waste technologies. Within less than four years, Low Carbon has developed more than 270MW of UK solar power. A broader international portfolio exceeding 2GW is in the pipeline.
The partnership will greatly support BAR’s efforts to run a sustainable business with clean energy. It will also see the team’s HQ accorded BREEAM ‘Excellent’ status – the hallmark of excellence in sustainable building. The BAR HQ is expected to be completed in the summer of 2015.
Commenting on the partnership, Low Carbon’s Chief Executive Roy Bedlow said: “I’m very excited by this long-term partnership, and with the prospect of making a key contribution to a true British success story. With Low Carbon and BAR sharing an ethos of sustainability, responsibility and mitigating the effects of climate change, I believe that together we can continue to make a difference for the better, long into the future.”
BAR’s Team Principal, the four-time Olympic medallist and America’s Cup winner, Sir Ben Ainslie commented, “We’re delighted to be on board with Low Carbon, and this new partnership takes us a long way towards our goal of sustainable, clean energy for our new base.”
Bedlow adds: “This project has exciting implications for renewable energy. Because the BAR philosophy is about educating and engaging locally, the project will be a fantastic showcase for how large buildings can be almost entirely sustainable.”
Matt Hancock, Minister of State for Business, Enterprise and Energy, said “This is a fantastic opportunity to demonstrate that Britain is not only a sporting world leader but also a leader in innovative technology. Britain is at the cutting edge of solar power, which not only benefits the environment but has the potential to create jobs and secure energy supplies. Sir Ben Ainslie’s project truly builds on Portsmouth and Britain’s global reputation as a centre of technology, sports, marine and maritime excellence.”
In a separate initiative, Roy Bedlow is joining the board of the team’s charity as a Trustee. Launched in October 2014, the 1851 Trust seeks to inspire and engage a new generation through sailing and the marine industry, providing young people with the education, skills and training required to become innovators of the future, and stewards of the marine environment.
Notes to Editors
About Ben Ainslie Racing
Ben Ainslie Racing (BAR) was launched on June 10th 2014 in the presence of the Duchess of Cambridge. The team was conceived by four times Olympic gold medalist and 34th America’s Cup winner, Sir Ben Ainslie, with the long-term aim of challenging for Britain and bringing the America’s Cup back home to where it all began in 1851. Ben will develop and lead a British entry capable of winning the prestigious trophy, something Britain has so far never managed to achieve.
BAR is a commercial sporting team, with a number of individual private investors alongside corporate partners. The team is made up of some of the best British and international sailors, designers, builders and racing support.
About Low Carbon
Low Carbon is a privately owned investment company, committed to the development and operation of renewable energy power production. Low Carbon invests into both renewable energy developers and projects across a range of renewable energy technologies including solar, wind, anaerobic digestion and concentrated solar power.
Low Carbon has a strong management team with a proven track record in the development, construction, financing and management of UK solar assets, with over 270MW funded and in construction and operation today. Low Carbon remains involved in the projects for the long term. Low Carbon has a dedicated asset management team that currently manages assets on balance sheet and for third parties (unlisted and listed).
About Roy Bedlow
Roy Bedlow is Low Carbon’s Co-Founder and Chief Executive. He is a founder member of the Carbon War Room: an international NGO and thought leader tasked with creating market-based solutions to climate change. Roy also sits on the Board of Andromeda Capital, a private equity firm investing in climate change and education, and the Board of Sparx, which is developing new technology to revolutionize learning.