RES adapts to address changing market conditions

The move follows a review of RES’ UK and global operations and will see a reduction in its UK workforce, with the onshore wind development team reduced in size. There will be some reductions and enhancements internationally as the company adapts its focus to activities with the greatest potential to maintain sustainable growth and to ensure continued progress towards grid parity.

RES Group Chief Executive Ian Mays said: “RES’ growth over the last three decades into one of the world’s leading independent international renewable energy companies has been built on our ability to adapt as the sector evolves, and we will continue to do so. Renewable energy markets around the world continue to change in response to economic and political priorities and in pursuit of parity with fossil fuel sources. In the UK, the closure of the Renewable Obligation together with uncertainty about onshore wind’s access to the Contracts for Difference regime has resulted in an inevitable period of reduced activity in the UK onshore wind sector. These changes have led us to review the focus of our markets, activities and investment.”

RES Chairman, Gavin McAlpine added: “We are evolving RES’ business to ensure we remain customer-focused and continue down a path of sustainable growth. While market changes have presented the need to adapt, our operations remain strong. By readjusting our focus, RES is positioning itself to meet the challenges of the evolving market place, whilst building upon the opportunities this creates to invest in international renewable markets to support growth towards its ambitious strategic objectives.”

ENDS

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Fiona McAra, Bottle PR, Fiona.Mcara@wearebottle.com  +44 (0)1865 770381