Commitment to Sustainable Energy

Renvico

7. Affordable and Clean Energy 9. Industry, Innovation and Infrastructure 13. Climate Action

Overview

RENVICO’s business practices are strategically structured around clean energy. They are committed to changing the way large corporations use power for electricity, heat and the day to day energy use. RENVICO challenges the traditional energy sector by providing renewable energy to large businesses and corporations.

Authors

Yasmin S.

Yasmin S.

Mariel Fuentes

Mariel Fuentes

nafeh saemdahr

nafeh saemdahr

School

Loyola Marymount University

Loyola Marymount University

Professor

Ingrid Greene

Ingrid Greene

Innovation

David Boyce described that their strategy consists of reaching out to big businesses like commercial centers, and offering them to switch from the mainstream energy companies that do not prioritize clean energy, to RENVICO. They have been in the renewable energy market for twenty years and continue to be one of the leading companies in the industry. Their innovation consists of wind farms that produce clean, renewable energy. RENVICO currently has 179 wind turbines in operation that produce 179 gigawatt hours per year, with gigawatt hours being a unit of energy representing one billion watt hours. In order to optimize the performance of their wind farms, RENVICO analyzes wind data using meteorological masts, remote sensing equipment, Geographic Information Systems and fluid dynamic simulations. Destinations go through a top to bottom evaluation interaction to distinguish their orographic, meteorological, natural and security attributes, determined to diminish dangers to a base, alleviating the effect of the offices, and upgrading turbine support exercises.

David Boyce emphasized that safety and innovation are some of their most valued goals. They try to stay up to date with the latest technology and are consistently doing research to ensure that the turbines are being placed in the best locations to obtain the greatest quality yield. He also mentioned their close connection to local governments in areas across the country. He emphasized how they highly value the communities where their projects are proposed in order to ensure everyone is on the same page about their activity in the area.

Commitment to Sustainable Energy

Inspiration

Alarmed by the increasing effects of climate change, David Boyce decided to start this subsidiary. As the leader of RENVICO, Boyce noticed that there was a lack of innovation in the industry of renewable energy and was interested in ways to advance it. He said “back then, no one was really concerned with the environment, at least not in the way people are now….I saw the problem and knew I had to do my part in remedying it.” Boyce placed a lot of emphasis on his adoration for ethical business practices. He said that in his time at his university, the most valuable business classes he took were those that placed an emphasis on ethical decision making. Boyce was definitely ahead of the game and continues to implement his strong care for the environment within his professional decisions. Boyce shared an interesting insight with our team where he shared that regulations in different places have highly contributed to his learning experience. For example, he shared that California has the strictest environmental policies while Saudi Arabia had no environmental restrictions at all. In order to penetrate this market, Boyce said he first had to educate the local government and business on the importance of clean energy and reducing the harm to the environment. Boyce told us, “No matter the different local policies, we all live on the same earth and will suffer the consequences of our actions across the globe.”


Overall impact

Over its years in the renewable energy industry, RENVICO has worked with over 250 wind farms in the countries of Italy, France, Romania and Greece. In the long term, RENVICO’s goal is to become one of the key operators in Europe’s renewable energy industry. Not only is RENVICO making a significant impact in Europe, it is also positively impacting the world. RENVICO’s mission of expanding clean, renewable energy to countries around the globe will help reduce the carbon footprint produced by some of the most industrialized countries. In a world with rising temperatures and increasing concern for the future of the environment, it is important to have companies like RENVICO that are actively combatting the harmful effects produced by fossil fuels world-wide. The overall impact of RENVICO’s business practices are cleaner energy, pollution reduction, modernization of the power sector, and a low-carbon economy.

Business benefit

In March 2020, RENVICO was invited to be a part of the ENGIE Group. ENGIE is a French multinational company that has become a world leader in the energy sector and zero-carbon services. Together, they will work towards the common mission of creating a sustainable future that is built on clean and affordable energy along with the infrastructure that supports it.

RENVICO benefits by having a positive brand image and an increased competitive advantage. A strong public image will lead to better relationships with their stakeholders, whether that being companies they work with, consumers, and the communities in which they are involved with etc. These can further allow RENVICO to have wider access to more opportunities to expand their sustainability reach across the globe.

Social and environmental benefit

Stopping the effects of climate change can happen if the emission of greenhouse gasses is reduced. Renewable energy offers a solution by having a smaller impact on the environment than from burning fossil fuels. RENVICO’s investment in wind energy will have a long lasting positive impact on the environment and the hopes of reducing climate change globally.

RENVICO is additionally a firm believer in the importance of business ethics and sustainability. One of the ways they believe they can do this is by passing on sustainability education to younger generations by raising awareness. They supply information on renewable energy, and the benefits of its development.

Interview

David Boyce, Managing Partner and Head of Special Projects

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Renvico

Renvico

Worldwide

Business Website: https://www.renvicoenergy.com/en/index.html

Year Founded: 2013

Number of Employees: 51 to 200

RENVICO is a US based company that is operating in the Middle east, majorly in Kuwait and Saudi Arabia. RENVICO works in the field of sustainable power, representing considerable authority in wind ranch farms. It is made out of a multidisciplinary group upheld by long periods of worldwide involvement with creating, subsidizing, constructing and overseeing environmentally friendly power plants. It currently has a solid presence in Italy and France, with around 334 MW of yearly introduced limit. To develop, RENVICO means to both extend its own ventures and procure new drives in the nations where it currently works. RENVICO continually screens the market to stay aware of mechanical patterns, as well as the arrangements embraced by its turbine providers and significant administrators on the lookout. The main focus of the company is the implementation of the UN SDG goal for clean energy, by the provision of safe energy resources.