London, 18 July 2018
Macquarie Principal Finance, the principal financing and investing arm of Macquarie Group’s Corporate and Asset Finance division (“Macquarie”) in collaboration with HBS New Energies (HBS), today announces the completion of the first installation for Anglian Water’s 30MWp onsite power purchase agreement (PPA) solar PV rollout.
Anglian Water is one of the UK’s leading water services companies and is also one of the largest power consumers in East Anglia. Anglian Water has set itself ambitious sustainability targets, including a commitment to becoming carbon neutral by 2050, and onsite solar will contribute to meeting these goals. The solar PV installations, to be designed and installed by HBS New Energies across Anglian Water’s sites, will deliver substantial electricity savings for Anglian Water as well as help reduce carbon emissions.
Macquarie is funding the installation of the solar systems and will own, maintain and operate them with HBS once completed. Anglian Water’s solar PV programme comprises sites ranging from c.200kWp to 15MWp in size and is expected to total approximately 30MWp of installed capacity. Once complete, the solar installations are expected to save more than 9,000 tonnes of carbon emissions annually compared to power sourced from the UK grid – the equivalent of over 1,000 households in the UK.
Andrew Gray, Managing Director at Macquarie Principal Finance said: “Our longstanding focus on renewables means we are uniquely positioned to fund the installation and maintenance of solar PV systems for our clients. This transaction demonstrates our commitment to developing solar PV in the UK, helping to reduce carbon as well as delivering cost savings for large commercial and industrial customers.”
David Riley, Head of Energy and Carbon at Anglian Water said: “Our region is particularly vulnerable to the impacts of climate change. In response, we really appreciate the support of both Macquarie and HBS in helping us to reduce carbon and cost on behalf of our customers. The strategy of integrating solar into our operational sites is a vital part of our route map to become carbon neutral by 2050.”
James Bull, HBS New Energies Managing Director said: “Macquarie were instrumental in getting this deal over the line. Andrew and the team supported us at every stage and were able to efficiently and effectively create a tailored PPA agreement for Anglian Water to sign into. HBS are very proud to be working with Macquarie on this exciting solar project.”
The terms of the transaction are undisclosed.