Strategic Energy to install 700 solar systems in Manchester

Strategic Energy has completed 400 of a planned 700 solar installations for Manchester-based landlord, St Vincent’s Housing Association. The tenants living in the solar-clad houses will benefit from free renewable electricity while the landlord takes the feed-in tariff payments.

Strategic Energy’s Director, Martin Davidson, said: “St Vincent’s Housing Association forged ahead with their PV programme by taking advantage of our pure equity FiT model that is viable at the 21p rate.

“Even if [the feed-in tariff] stays at 21p they still get free PV, free electricity for tenants that will lower bills by up to £250-a-year, help maintain jobs and reduce their carbon footprint by 700 tonnes per year.”

“Our association with law firms Cobbetts, Trowers & Hamlins, Addleshaw Goddard, Croftons and Squire Sanders means all the legal documents are drawn up and we cover the legal costs. We also have the workforce, stock and materials ready to use.

“The framework is compliant with the Council of Mortgage Lenders and also overcomes problems landlords have faced trying to obtain lenders’ consent with approval granted by Barclays, HBOS and Dexia,” Davidson explained.

Strategic Energy is backed by an institutional investor and specialist clean technology company, Hazel Capital. The company’s pure equity model means none of the returns from the feed-in tariff need to be used to pay the cost of the debt.

Strategic Energy is said to be in advanced talks with several other landlords who have considered the company’s free PV model.