The approach

The opportunities outlined here are intended to be of interest to enterprises and other institutions which are users of electricity and have roofs large enough to accommodate solar energy generation panels. This will create a permanent secure source of low cost solar electricity, primarily for their own consumption. Ideally a counterparty will have a roof of over 20,000 sq. ft. (eg. 200 x 100 sq. ft.) on which solar panels can be installed.

The approach is timely as commercial enterprises and institutions are challenged by the rising cost of energy, increasing insecurity of supply, and the need to achieve a reduced carbon footprint.

How it works

At its own cost, HREL would undertake a feasibility study, plan, develop, construct and connect a solar energy generation system designed for the counterparty which would supply the energy generated at a fixed cost which would be significantly below their current cost.

Indicatively, the installation could be implemented within 12 months. The precise cost will be established and dependent upon the scale of the project as well as development and installation costs.

These savings can be achieved by leasing the roofs of buildings to HREL and purchasing part, if not all, of the power generated at a discount to current power prices. Such arrangements would typically be for a period of 15 – 20 years for both lease and a Power Purchase Agreement (“PPA”).

Requirements

In order to plan and develop a scheme HREL will require:

• Identification of the counterparty to the option, the lease and the PPA
• Confirmation that the counterparty
  would be willing to enter into a
  minimum of a 15 year PPA with HREL
• Details of which buildings would be available for use including location
  and a site plan
• Confirmation that the counterparty would enter into an exclusive option agreement to lease the roofs for electricity generation purposes and some ground space for an electricity storage facility
• Advice as to identity of the planning authority which has jurisdiction over
  the site
• Half-hourly data for current energy use

Implementation

If this is potentially attractive, both parties would enter into a confidentiality agreement and once the lease option is executed HREL would appoint consultants and advance the project without delay.

The starting point is the identification of available buildings and a feasibility study.

Contact

For further information and an initial discussion please contact Charles Rose on carose@hainsford.com or 07831 806575.

Principal benefits for you:

• Reduced and certain cost of energy
• No capital outlay required
  Secure energy supply
• Reduced carbon footprint and
  a major contribution to meeting
  the goal of net zero emissions.
• Reduced Scope 2 emissions
  for statutory reporting