Backed by Macquarie Bank, the new financing deal will fund residential solar panels on up to 1500 houses a month as part of the Freetricity’s free solar roll-out program.
Under the terms of the contract, Styles&Wood Energy is responsible for handling all aspects of site-surveying, specification and installation for the nationwide program, which is likely to generate more than 30MW solar power.
Styles&Wood CEO Tony Lenehan said that the program, for which it has been selected as the installer, is one of the largest free solar roll-outs in the UK.
"The development of the Group’s 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.
"We 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," added Lenehan.
