Client: Soyang Europe:
Soyange Europe are a leading manufacturer of printable materials. They were looking to reduce their energy bills and improve the environmental credentials of their Accrington site.
Other partners: Engenera & Guinness Asset Management
Scheme: 30 kWp Solar PV system
Solution & Project funding: The entire project was delivered through a fully funded, serviced, installed, managed, and maintained Power Purchase Agreement model.
The requirement for a solar PV developer who could fully finance, design, install and maintain a commercial Solar PV system. To ensure the installation was carried out safely and without any disruption to the work at the Accrington site.
Working with our delivery partner, Engenera, Sustinere UK were able to deliver a fully- funded scheme with funding from Guinness Asset Management. The Power Purchase Agreement between Guinness Asset Management and Soyang meant the solar PV system could be installed at no cost to Soyang. Once installed, Soyang were able to benefit from lower than Grid priced electricity, and improved energy efficiency ratings for the site. With the Solar PV generated electricity prices tied in with RPI, Soyang will likely see the savings increase given that grid electricity price increases are predicted to exceed RPI over the next 20 years.
What is a Power Purchase Agreement?
A Power Purchase Agreement (PPA) enables businesses to make the switch to low- cost, clean energy with no upfront costs. Instead of purchasing electricity from the grid, businesses generate their own clean, green energy from a solar PV system. Under the terms of the PPA,the business has no upfront cost for installing or maintaining the solar PV system, and gets to buy the electricity at lower than grid electricity rates.