Combined heat and power (CHP) specialist GEM Energy is to offer financing services to re-open stalled projects, says General Manager Sam Brewer.
As the US-based firm turns its focus to mission-critical applications such as data centres, GEM Energy is also tackling ‘the key impediment’ of cost of capital, he told COSPP.
‘We could significantly increase and potentially double our sales of these systems with the same customer pool,' he said.
‘We are putting together a list of projects to approach our banking partners about – which could be projects that had failed in the past through a lack of finance.’
With a near-term strategy of targeting data centres, the company is currently working on six projects that emerged from a recent summit in Toledo, Ohio, where GEM Energy spotlighted several local micro-turbine installations.
‘Despite having a relatively moderate electricity price, Toledo has the highest number of discrete micro turbines in the relatively small radius of the city centre,’ said Brewer.
‘If it can be done in a marginal market like Toledo, we can certainly have success with this technology in municipal areas with higher electricity prices.’
GEM Energy is also helping realise a district heat project in Ithaca, New York State, where it is engaged in completing a feasibility study.
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