Six-figure funding deal fuels switch to solar panel
A six-figure funding package has enabled a family-run Midlands contractor to install 292 solar panels, capable of producing 120 kilowatts of electricity each hour.
SSG Contracts, headquartered in Shirley, has been supported by a £167,000 funding deal from Lloyds Bank, to add the solar panel system to its managed site in Northamptonshire.
The £21m turnover business currently employs 60 people and aims to double its turnover and headcount in the next two years. It provides a range of services, including construction, refurbishment, maintenance, facilities management, warehousing and logistics across all sectors, with customers including Amazon, Savills, and Jaguar Land Rover, domestically, as well as in Europe, America and the UAE.
The panel installation comes as a result of a Carbon Insight Report conducted for SSG Contracts by Lloyds Bank, which helped the business calculate its carbon footprint and identify where investment can have the most significant impact on reducing emissions. Funding has been provided through Lloyds Bank’s Clean Growth Financing Initiative, with money set to fuel further solar panel installation at SSG’s Solihull head office.
The new solar panels are expected to save the business 24 tonnes of CO2 per year, and up to £38,500 in energy. It is expected to produce enough electricity throughout summer to meet the site’s full energy demand and generate enough surplus to return to the grid. The business eventually hopes to install batteries on-site to store the energy produced for use overnight or in winter, allowing the site to become 100% energy self-sufficient.
SSG purchased The Nene Business Centre in Wellingborough in December 2021 with the support of a £2.6m loan from Lloyds Bank, to provide office and warehousing space to its customers.
John Fitzgerald, director of SSG Contracts, said: “We are focused on the future and driving sustainable growth of the business. The Carbon Insight Report from Lloyds Bank has helped us identify where our investments can have the most impact on cutting our emissions, setting us on a clear path to reducing our environmental impact.
“As we work towards net zero, we’re facing increasing demand from customers to demonstrate our sustainability credentials. By investing in carbon reduction initiatives, we hope to be able to demonstrate compliance with BREEAM, a science-based validation and certification system for sustainability in the built environment, to help our customers meet their own carbon reduction targets.”
Paul Warrington, relationship director at Lloyds Bank, said: “We’ve been working with SSG Contracts for almost 15 years, supporting them with various projects to help drive their growth, including the acquisition and subsequent sustainability focused refurbishment of Nene Business Centre.
“We’re proud to work with local businesses such as SSG Contracts, which prioritise sustainable growth, while supporting others in their sector to do the same. We will be by the side of businesses in the region to help support them on their carbon reduction journey, as they work to help create a more sustainable built environment.”