Renewable specialists TGE Group has agreed a significant financing deal with Macquarie Lending to supply photovoltaic (PV) systems for commercial buildings across the UK. The programme, one of the largest in the UK, will allow TGE Group to access as much as £100m from the global investment firm to fund commercial solar-power installations across Britain.
The offer is available to owners of warehouses, retail units, farms and businesses with near south facing roof areas and comes with a 20-year maintenance agreement after which ownership of the installation reverts to the customer.
Organisations that sign up for the free solar PV installations can enjoy greater control over their electricity pricing for the next 20 years. TGE Group will be able to install the technology on any commercial properties including buildings which have pitched or flat roofs. 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.
TGE Group managing director, Rupert Higgin 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.”
Headquartered in Cheshire, TGE Group provides renewable energy systems for clients in the commercial, agricultural and public sectors. The company covers all renewable energy technologies including solar, biomass and heat pumps to help customers reduce energy costs. The broad range of products also compliments their existing energy management and distribution services.