A renewable energy firm based at Weeton has secured a £5m funding pot to help businesses switch to biomass.
The free business biomass scheme, which will be operated by Think Renewable Energy and is supported by debt finance, will enable businesses to apply for a fully-funded biomass system to help them manage their energy costs and reduce CO2 emissions.
Anthony Barrett, CEO of Think Renewable Energy, said the scheme has the potential to fund 7MW of installations and reduce the region’s CO2 emissions by 65,000 tonnes over the term of the scheme.
“In addition to the C02 savings, there are considerable financial benefits to switching from traditional heating sources such as oil, LPG, electricity. Our customers are achieving up to 50 per cent fuel savings from the switch to biomass, which makes the scheme very attractive for any commercial organisation,” he said.
The new scheme will cover the entire cost of each system and includes a free feasibility study. Think Renewable Energy will project-manage the installation and will be responsible for maintaining the system for 20 years.
Mr Barrett added: “The fund has the potential to put businesses in a strong position by protecting them from volatile energy markets and facilitating future growth.”