Cheshire renewables firm in solar funding deal
CHESHIRE-based renewable energy services company TGE Group has announced a major funding deal with Australian financial services giant Macquarie Lending to expand its solar panels activities.
Nantwich-based TGE says it could access as much as £100m to photovoltaic solar systems for commercial buildings across the UK.
Rupert Higgin, managing director of TGE Group said: “As an experienced commercial installer, we are pleased to be selected by Macquarie to take on this project.
“Commercial rooftop installations have been held back in the UK by economic uncertainty and cash flow constraints, yet this is the sector that has the most to offer. We hope that the investment by Macquarie will unlock the potential of this market sector and help the UK achieve its renewable targets.”
Eligible businesses – most likely to be warehouses, retail units, farms and businesses with near south-facing roof areas – will agree to a deal to get free solar panels if they sigh up to a 20 year maintenance agreement. After this time they take on the ownership of the installation.
The capital investment will be repaid through a combination of Power Purchase Agreements (PPAs) and the Feed in Tariff (FIT), the Government scheme to reward property owners who produce their own electricity.
