Deal Struck For Â£50 Million Of PV Systems In UK
Installation contractor, Forrest and Macquarie Lending have agreed to fund and supply photovoltaic (PV) systems for commercial buildings across the UK.
The agreement is part of Macquarie Lending's up to Â£50 million commercial solar power programme, one of the largest in the UK, and follows the success of Macquarie Lending's residential programme launched in conjunction with Forrest in late 2013.
Organisations that sign up for the free installations can enjoy greater control over their electricity pricing for the next 20 years. Forrest will be able to install the technology on any public or private sector buildings which suit the purpose including buildings which have pitched or flat roofs.
Macquarie Lending's 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.
Funding is available not only for conventional roof mounted PV installations but also ground mounted solar systems and all installations are managed under a 20-year fully funded and insurance backed Operation and Maintenance agreement.
Ted Mac Dougal, Development Director, Forrest, said: "Businesses are expected to play an active role in minimising their environmental impact. The installation of free solar power generation technology will help them achieve this while also reducing energy bills.
"In partnering with Macquarie Lending, we have a long-term investment pipeline that will help us deliver thousands of installations as we extend into the commercial sector and strengthen our position as a leader in the field."