Clean-energy supply and solutions company Pinergy has announced the launch of a €30 million fund to accelerate the delivery of solar energy to businesses across the country.
Funded solar is a new service for commercial energy users that will enable them to access lower-cost renewable energy, as they get ready for the energy transition.
As part of this new service, Pinergy will design, instal and maintain the solar PV installation in their clients’ commercial properties, with no capital outlay for the business. The client will agree a power purchase agreement (PPA) with Pinergy to buy electricity generated by the solar panels, which will cost less than prevailing prices from the grid. When the €30 million fund is fully taken up, the renewable energy generated will meet the equivalent needs of 7,000 typical homes, reducing demand on the grid.
This new funded solar service will enable businesses of all sizes with good roof space to utilise renewable energy, reduce their carbon footprint, and move towards a more sustainable business model. The initiative is ideally suited to a range of sectors – including retail, hospitality, leisure, manufacturing, logistics, pharma and industry – whose commercial energy users have seen their grid energy costs increase in recent years.
Statements By Pinergy CEO
Speaking at the launch of the new €30 million solar-energy fund for businesses, Pinergy CEO Enda Gunnell said, “Many businesses have been faced with rising operating costs due to volatile energy markets over the last few years. We recognised that there is [a] need to provide a simple solar solution that maintains security of supply while reducing costs to businesses across the country, while also enabling them to play their part in a sustainable energy future.”
Gunnell added, “The Pinergy Solar Fund is our solution to meet the needs of many businesses, who are not ready to make the up-front capital investment that solar projects traditionally require. We are delighted to be able to bring this new service to the market. Pinergy will fund the initial installation and maintain the solar PV project, while, at the same time, our clients benefit from certainty on, and reduced energy prices for, the next 25 years.”
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