The Green Investment Group has today launched a new service to help medium and large energy users adopt distributed energy systems.
The green finance entity, known as the Green Investment Bank when in the government’s hands, will offer the systems under a pay-as-you-save model via a new unit named Energy Solutions.
Energy Solutions will offer public and private organisations systems including CHP, solar, battery storage, LED lighting and electric vehicles to both reduce their energy costs and cut carbon emissions.
Organisations will also be able to adopt these technologies without any upfront costs. Energy Solutions will cover the bill under an Energy Services Agreement which allows businesses to pay off those costs via energy savings over time.
Bill Rogers, head of distributed energy and onshore renewables at GIG, said that rising bill costs, technological advances and regulatory pressures were forcing businesses to think deeply about their energy productivity.
“By utilising the latest distributed energy and energy efficiency technologies, organisations can generate, store, use and actively manage energy more efficiently.
“However, organisations are often faced with a choice between investing in new energy infrastructure or channelling available capital into core operations. Energy Solutions will design, fund and deliver an integrated programme of energy upgrades, assuming the key risks and expenditure involved.
“This will provide our clients with greater certainty and control over energy costs and help to increase business resilience and lower emissions without constraining their balance sheets,” he said.
The government completed its long-protracted sell-off of the Green Investment Bank in August. Macquarie took the reins and immediately rebranded it as the Green Investment Group, setting its sights on overseas projects.