Contractor will install solar panels on up to 1,500 homes a month
Styles & Wood has won a major contract to install solar panels on up to 1,500 homes a month for UK solar supplier, Freetricity.
The solar panels will be offered to homeowners free, with money recouped after installation, under a financing deal struck between Freetricity and Macquarie Bank.
Styles & Wood鈥檚 energy division will handle site-surveying, specification and installation for the nationwide programme, which expects to generate over 30MW of solar power.
The deal is a major coup for Styles & Wood鈥檚 fledgling energy division.
Styles & Wood is better known as a fit-out contractor for clients such as banks and retailers but has begun diversifying in recent years into areas including energy and IT.
The solar panels deal is being financed by Macquarie Bank.
Tony Lenehan, Styles & Wood chief executive, said: 鈥淭his is a significant project for the UK residential solar market and reflects Styles&Wood Energy鈥檚 growing reputation in the field of renewables installation.
鈥淭his is the largest free solar roll-out of its kind in the UK and we are excited to be part of this leading UK initiative.
鈥淭he development of the Group鈥檚 Renewables division was core to our diversification strategy, and this major project demonstrates that the Group now has the capability to deliver large scale installation programmes on a national basis.
鈥淲e are confident that Styles&Wood Energy is well placed to deliver sustainable profitable work streams and we remain focussed on the continued growth of the division as the demand for alternative energy sources continues to increase across the UK.鈥�
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