Yorkshire-based free solar company, A Shade Greener has reportedly secured backing from a major commercial finance provider in order to expand its rapidly-growing business.
Creating approximately 60 new jobs, GE Capital has agreed a £20m financing deal with the solar panel installer, to increase its portfolio to 4,400 solar installations in and around Yorkshire, Nottinghamshire, Lincolnshire and Derbyshire.
David Rendell, the Managing Director of Green Financing at GE Capital EMEA said, “We are fast expanding into the green sector, demonstrating the increasing breadth of our UK activities.”
Stewart Davies, Chief Executive and Founder of A Shade Greener said, “GE Capital’s team knew as much about solar panels and the industry as we did,” adding that the company planned to take on the 60 extra members of staff in its fitting teams before Christmas this year.
By utilising the Government’s feed-in tariff scheme A Shade Greener is able to offer its customers free solar panels. In return, the company effectively rents the customer’s roof space so that it can benefit from the FiT payments, which currently stand at 43.3p per kilowatt hour of energy generated.
To date, A Shade Greener has completed 3,956 solar installations in the UK, saving more than 3,000 tonnes of CO2.