Green Investment Group has launched a pay-as-you-go service to help medium and large energy users reduce energy costs and cut carbon emissions with no upfront costs.
Dubbed Energy Solutions, the new service will provide private and public organisations with end-to-end technical and funding support that will enable them to take distributed energy and energy efficiency projects from the earliest phase of development through construction and into operations and management.
As part of Energy Solutions, GIG will offer a ‘pay-as-you-save’ Energy Services Agreement. This will enable businesses to benefit from a programme of investment in energy assets with no balance sheet impact.
These assets can involve a diverse range of technologies including power generation, heating and cooling, controls and systems, batteries, transport fleets, and lighting.
Together, GIG and Macquarie have led over £15 billion of investment in the UK across a broad range of green technologies including energy efficiency, rooftop solar, smart meters and energy storage.
The UK Government is targeting improvements in energy efficiency by 20 per cent among UK business and industry by 2030 and collective savings of up to £6 billion over the same time period, as set out in the Clean Growth Strategy, published in October 2017.
Separately, Clean Growth, a report published recently by Policy Exchange and supported by GIG, identified access to capital as one of the biggest barriers to the widespread adoption of distributed energy and energy efficiency technologies in the UK.
Energy Solutions provides organisations with development expertise and a new source of capital to finance the types of investments that will be required to achieve these targets.