New Projects versus Existing Projects
Model A for new projects and Model B for existing UtCS-funded projects.
Two complementary sources of value
The portfolio deliberately blends assets UtCS builds itself with operating assets it acquires. Each plays a distinct role, and together they balance growth against predictable income.
Assets UtCS builds
UtCS uses its engineering and delivery capability to develop new generation and storage assets. These are funded through the portfolio and carry construction risk in exchange for higher long-term value creation.
Assets the portfolio acquires
Operating assets with a proven track record are acquired into the portfolio. They deliver immediate, predictable income and diversify the portfolio away from construction timing.
| Dimension | New-build assets | Existing assets |
|---|---|---|
| What it is | A greenfield asset UtCS designs, funds and constructs from the ground up. | An operating asset with an established generation and revenue history that the portfolio acquires. |
| Risk profile | Construction and commissioning risk before cashflows begin; higher potential return. | Performance is already proven; lower execution risk and more predictable yield. |
| Time to cashflow | Cashflows start once the asset is energised and reaches commercial operation. | Cashflows are typically immediate from the point of acquisition. |
| Role in the portfolio | Drives growth and long-dated value creation. | Provides stability, diversification and near-term distributable income. |
What it is
- New-build assets
- A greenfield asset UtCS designs, funds and constructs from the ground up.
- Existing assets
- An operating asset with an established generation and revenue history that the portfolio acquires.
Risk profile
- New-build assets
- Construction and commissioning risk before cashflows begin; higher potential return.
- Existing assets
- Performance is already proven; lower execution risk and more predictable yield.
Time to cashflow
- New-build assets
- Cashflows start once the asset is energised and reaches commercial operation.
- Existing assets
- Cashflows are typically immediate from the point of acquisition.
Role in the portfolio
- New-build assets
- Drives growth and long-dated value creation.
- Existing assets
- Provides stability, diversification and near-term distributable income.
Illustrative comparison of new-build and existing assets within the portfolio.
Investors are exposed to a portfolio, not a single project. Blending assets UtCS builds with assets it acquires is what turns individual energy projects into a diversified, cash-generating whole.
Why the blend matters
Executive Takeaway
Blending assets UtCS builds with operating assets it acquires balances long-term value creation against predictable near-term income.
Why this matters to UtCS
A blended pipeline lets UtCS deploy its build capability while still offering investors immediate, de-risked income.
Why this matters to investors
The blend smooths cashflow and reduces reliance on any single project reaching completion on schedule.