On a mission to accelerate the global energy transition, BNRG is making significant strides in the development, construction and operation of grid-scale solar projects. CEO David Maguire, recently named an EY Entrepreneur of the Year finalist, discussed global decarbonisation through solar power. Report by Antonia Cole.
Currently, BNRG is experiencing significant growth. “To date, we have delivered over 400 megawatts of projects, with five gigawatts in development,” CEO David Maguire said. “The impact from our expanded capabilities has been huge. 400 megawatts is the equivalent of powering 113,000 homes or removing 160,000 tonnes of carbon from the atmosphere annually. When we deliver the 5 gigawatts, it will remove 2 million tonnes of carbon annually.”
Founded in 2007, BNRG was born from
Mr Maguire’s passion for sustainability and vision to have a world powered by renewable energy.
Mr Maguire was recently named a finalist in the EY Entrepreneur of the Year Awards in the international category. Over the last 17 years, the company has built a reputation for building best-in-class utility-scale solar projects. Headquartered in Dublin, BNRG also has growing teams in the US and Australia.
BNRG aims to power 1.6 million homes a year with solar energy and is on track to achieving it. Already operating within the key markets of the US, UK, Ireland and Australia, it has recently expanded into Canada. This will facilitate BNRG’s growth and its goal of delivering clean energy around the world.
From initial discussions with landowners to project completion, BNRG is active in every stage of development, whilst also building strong relationship with key local partners.
“Taking a full life-cycle approach means we stay flexible, adapting to the needs of local markets,” Mr Maguire
continued. “This ensures we consistently deliver high-quality, efficient and innovative solar farms globally.”
Reaching global markets
Maine is a key location for BNRG. Out of the 19 employees based in the US, 15 are l ocated at the company’s office in Portland, Maine. Collaborating with multiple local partners, BNRG will develop and build projects in the area.
“We plan to build large-scale farms to inject power into the transmission network, then exported to New England – a core market for us,” explained Mr Maguire. “We have expanded into new markets in the US mid-Atlantic region, including Ohio, Indiana a nd the Carolinas. There is around a gigawatt of power under development in these areas.”
Within Canada, BNRG has half a gigawatt of power at advanced development stage
and a further gigawatt planned. The company predicts the sector to be a significant growth area.
“We carefully choose our markets,” added Mr Maguire. “We consider the permitting legislation, wholesale power price, demand forecast for power, the renewable portfolio standards of each individual state and grid availability. There are more site-specific features too, like land suitability and grid interconnection points. We look at all these factors to identify the most appropriate areas for our operation. This ensures our consistent track record for delivery.”
BNRG is involved in solar energy policy development. As founding members of the Bulgarian Photovoltaic Association, The British Solar Trade Association, the European trade representative body (AFASE) and the Irish Solar Energy Association, the company has helped shape the future of the industry to
support the global transition to renewable energy.
Technology and innovation are important to BNRG. As the development of a solar facility can take years, technology can advance significantly during a project. BNRG predicts what new technology will look like, using market research, and designs solar farms accordingly.
“We were one of the earliest adopters of bifacial modules and the first in Europe to deploy 72-cell modules,” continued Mr Maguire. “By staying ahead of industry developments, we open new global markets. We are leaders of solar, in both Europe and North America, because of our ability to think ahead and to adapt flexibly.”
Working within many locations, BNRG is resilient to changes in market activity. This resilience is reinforced by being a vertically integrated company.
If constrained in terms of supply chain, or other factors, then BNRG can focus on more profitable areas of the business.
Developing projects
Currently, BNRG has 43MW of projects under construction in Ireland in partnership with Impax Asset Management. Two of the farms will be located in Co Kildare, with the last in Cork, and will generate enough renewable power for 10,000 homes a year.
“We contribute to local community support schemes whilst we develop our farms,” commented Mr Maguire. “It is important to support the area, not just in terms of clean energy, but also education and biodiversity protection.”
Through the success of these new projects, including another nine solar farms under construction in Maine, BNRG continues to expand its team and prepare for future growth. Currently, the company employs 50 people, but expects this to increase to 60 by the end of 2024.
“Our global team is motivated by the impact we are making in solar deployment,” said Mr Maguire. “We’re fortunate to have such great expertise in-house, so we’re excited to continue building on this.”
Additionally, the company intends to raise significant capital through an equity raise this year. This is part of BNRG’s five-year plan for growth and development.
“Within the next three to five years, we hope to deliver the five gigawatts of power we have under development,” added Mr Maguire. “Then, we want to double
the size of our planned projects to ten gigawatts and expand into more US states, as well as further into Europe.”
Working collaboratively
Within operations, BNRG takes action to be sustainable and support local communities. By encouraging contractors to work with local suppliers, BNRG builds long-term relationships within the area. This reduces transport emissions and promotes the local economy.
“We try to work with suppliers whose values align with our own,” said Mr Maguire. “Our relationships with landowners and local developers are very important. We support each other to deliver projects that benefit the community and the planet, which is our overarching goal. By engaging in open communication with locals, we listen to their concerns and accommodate our designs to satisfy everyone.”
BNRG has built trusted relationships with technology suppliers since the company’s
establishment in 2007. By being consistent and honest, BNRG has utilised these partnerships to stay at the forefront of technology innovation.
The company is exploring integrating more AI and digitalisation into operations, making processes more efficient and sustainable. Drones are used to analyse sites and limit BNRG’s carbon footprint. Additionally, the company protects biodiversity in operations. On a solar farm, only around 40% of the land is used. Therefore, BNRG promotes the dual use of land on projects.
On many sites, farmers use the area for sheep grazing, organic blueberry farming or commercial bee keeping.
“In Maine, a farmer is growing blueberries between the rows of solar panels,” explained Mr Maguire, in conclusion. “Sheep grazing is implemented on our sites in the UK and Ireland. With every project, we've enhanced biodiversity, which we're passionate about. Accelerating the energy transition and decarbonising the electrical system is essential, and I’m delighted to be a part of it, alongside my amazing team.” n
