GE Capital has financed a £20m (€23m) deal
with UK free solar panel installer A Shade Greener for the
installation of solar panels on 2,000 homes.
The financing will help the Yorkshire-based
company to expand its solar installations in the Yorkshire,
Nottinghamshire, Lincolnshire and Derbyshire regions.
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A Shade Greener’s portfolio will amount to
4,400 solar installations through GE Capital’s financing.
Since the solar panel installer uses the UK
Government’s Feed in Tarrif (FIT) scheme it is able to offer its
customers free solar panels, free installations and free usage
of all electricity produced by the solar PV system.
The company holds a lease of the roof tops and
in return, the company benefits from the FIT scheme which currently
pays a generation tariff of 43.3p per kilowatt hour.
“We are fast expanding into the green sector,
demonstrating the increasing breadth of our UK activities,” said
David Rendell, managing director of Green Financing at GE Capital
EMEA.
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By GlobalDataStewart Davies, CEO and founder of A Shade
Greener said: “GE Capital’s team knew as much about solar panels
and the industry as we did, and they genuinely understood our
business model which centres upon obtaining total customer
gratification.”
GE Capital agreed to another environmental
deal this week by partnering with PSA Peugeot Citroen to
potentially purchase 1,000 electrical vehicles to lease in
Europe.
Elza.HolmstedtPell@vrlfinancialnews.com
