FOR RELEASE: May 11, 2021
VECKTA Wins Liberty Utilities Distributed Energy Systems MSA
Empowering Liberty to provide sustainable energy and water solutions
On March 17, 2021 Liberty Utilities (Liberty) named VECKTA the winner of a contract to support Liberty’s development of Distributed Energy Systems (DES). The award recognizes VECKTA’s unique market platform capabilities that will empower Liberty to screen, design and facilitate the effective co-creation and deployment of DES, such as microgrids, distributed solar, solar plus storage, and similar projects, with the energy sector supply chain.
Liberty is committed to providing communities and businesses with safe, secure, reliable, cost effective and sustainable energy and water solutions. DES are a key technology to follow through on this commitment. Liberty committed to investing in grid modernization and customer experience improvements.
VECKTA will empower Liberty to rapidly deploy capital into DES solutions as efficiently and effectively as possible. VECKTA will accurately assess Liberty’s potential projects, prioritize those with the greatest impact and then optimize them using VECKTA market data and the world’s leading DES design toolkit, XENDEE. VECKTA can then match specific project needs with the best suited constructors and equipment suppliers in the VECKTA market platform, and facilitate the procurement and contracting for transparent, consistent and value adding win-win outcomes for all stakeholders.
“The businesses and communities of tomorrow won’t be powered by last century’s electrical grids. The Energy Transition poses a huge challenge for today’s grid operators. But it is also a huge opportunity, and Liberty is a company that sees that. We at VECKTA are excited to support such a forward-thinking utility in proactively modernizing their energy infrastructure”, says Gareth Evans, CEO, VECKTA.
VECKTA is the Energy Transition Market Platform and a Joint Venture between Worley and XENDEE. VECKTA integrates the world’s most advanced energy system engineering tools with an end-to-end marketplace to bring together all the stakeholders to assess, design, supply, build, and finance microgrids and other Distributed Energy Systems (DES). VECKTA empowers businesses and communities to quickly and easily baseline their energy situation today, customize a solution specific to their needs (cost, reliability and/or emissions) and then seamlessly engage and contract the best equipment, services, and capital providers in the market to finance, deploy and operate it sustainably and profitably.
Algonquin Power & Utilities Corp. (AQN), parent company of Liberty, is a diversified international generation, transmission, and distribution utility with approximately $13 billion of total assets. Through its two business groups, the Regulated Services Group and the Renewable Energy Group, AQN is committed to providing safe, secure, reliable, cost-effective, and sustainable energy and water solutions through its portfolio of electric generation, transmission, and distribution utility investments to over one million customer connections, largely in the United States and Canada. AQN is a global leader in renewable energy through its portfolio of long-term contracted wind, solar, and hydroelectric generating facilities. AQN owns, operates, and/or has net interests in over 3 GW of installed renewable generation capacity.