£10m Immediately Available for EvoEnergy Clients to Install Free SolarMay 31, 2016
Whether your company is considering installing solar PV for the first time or looking to expand a current system, EvoEnergy have just secured an allocation of £10m funding for companies to install a free, fully maintained solar PV system through a power purchase agreement. Funded by one of EvoEnergy’s third-party asset investment partners, there is also potential for this allocation to grow by a further £30m over the next 12 months.
In summary, a PPA is a zero cost route to get immediate access to the financial, green and energy security benefits of solar PV. Electricity generated by the system is then sold back to your company at a fixed long-term rate that is generally cheaper than your existing supplier and linked to inflation better than the energy market. Visit the link above for more details of a PPA and its benefits.
For your company to qualify for a fully funded installation, certain criteria have to be satisfied to the investor. This is generally based around your building (or buildings) and the size of the array, dictated by your roof space and electricity usage onsite.
There is no catch to a PPA; it’s simply a cost-free route to commercial solar that has been around for a few years although many companies have been unaware of this type of financing. In 2016, EvoEnergy installed and commissioned the UK’s 4th largest rooftop installation for Lyreco which was fully funded via a PPA. Similarly, in 2014, a PPA was the funding mechanism that allowed BMW Mini to install a 3 MWp system at their manufacturing plant in Oxfordshire. Smaller system installations (from around 50 kWp) by EvoEnergy have also been funded by PPA’s over the last few years.
Following the feed-in tariff cuts earlier this year, funding for solar PV installations has become less available. However, thanks to EvoEnergy’s expertise in the industry and excellent relationships with key energy asset investors, a huge sum of money has been negotiated and agreed for EvoEnergy to offer competitive PPA’s for new installations.
Categorised in: EvoEnergy News