March 2023 - Centreco

Image: Centreco installation at M-Tech Engineering (93kW Solar System)

Continued growth in Centreco’s solar energy installation rates in third quarter of financial year
Strong progress in contracted project development for the Company
Environmental and financial factors drive long-term growth in the sector
Investment made in installation capacity and operational resources in the period to drive further expansion

Centreco, a principal commercial solar energy systems installer for businesses in the United Kingdom, is pleased to announce further increased installation deployment through the third quarter of its financial year.

Now with thirteen operational installation teams throughout the country Centreco delivered 6.1MW of new solar energy system capacity across 26 client sites in the three months to end February 2023. This deployment represents a future CO₂saving in excess of 30,000 Tonnes over the 25-year warranted performance cycle of the tier one panels specified across these energy systems.

Centreco anticipates its solar energy deployment to increase further into the final quarter of its financial year as improved weather conditions and the roll out of further operational resources accelerates the installation rates against the range of contracted and approved projects the Company has in place.

The financial proposition from on-site self-generated solar energy for a business in the UK is extremely compelling, with systems delivering immediate pay-backs to clients through an equivalent fixed electricity price of 2p to 4p per kWHr hedged over the 25-year warranted term. This price position offers substantial savings to a business who are now paying upwards from 25p per kWHr in the open commercial electricity market.

A Centreco solar energy system will protect a business against electricity price inflation, will deliver premium financial returns and enhance the market value of any commercial premises.

The attractiveness of the proposition and Centreco’s dedicated premium approach to the business market has additionally seen its project development teams secure 9.1MW of contracted installations during the third financial quarter. This bodes well for the Company’s installation run rates through the latter period of the 2023 calendar year when these projects will reach grid approval stage and the Company’s installation resources are aligned accordingly.

Jon Williams, Managing Director of Centreco commented “Centreco are pleased with the solar energy deployment rates delivered during the last three months, notably as this Winter period has seen poorer weather conditions for our operations and despite this, we have delivered a very strong installation performance across the business. We are also encouraged by the project development out-turn in the quarter, this contracted work aligns well to our continued roll out of installation capacity through 2023.

The three-months has also seen investment in our vehicle fleet, operational equipment and an increase in our commitment to staff training and quality initiatives as we expand our installation teams throughout the country.

With continued environmental pressures on property conformance and across supply chains coupled with long-term energy price impacts on businesses we see the commercial solar energy systems market continuing to grow at pace over the coming years. We are laying a strong foundation to lead the sector for the long-term and our increased installation reach and project development resources will be the catalyst to deliver an increasing number of premium systems for our growing client base across the United Kingdom.”

31^st March 2023

Image: Centreco installation at Shand Higson, Merseyside (56kW Solar Energy System)

Leading packaging merchant, Shand Higson, work with Centreco (UK) Limited to install their industry-leading solar energy system
On site electricity generation in place through a 56kW capacity system at Merseyside Premises
Bespoke designed system comprising of 150 Tier One Solar Panels
CO₂ emissions savings of over 283 Tonnes across the next 25 years
Equivalent electricity generated from the system at 5.9p per kW Hour for the long term

Leading installers of commercial Solar Energy Systems, Centreco (UK) Limited, announce completion of a 56kW installation for Shand Higson at their premises in Knowsley, Merseyside. The solar energy system consisting of 150 roof mounted tier one panels will allow this pre-eminent multi-faceted packaging merchant to generate their own green electricity, with the system predicted to save over 283 Tonnes of CO₂emissions over the next 25 years. These CO₂ savings are equivalent to 703,000 miles driven by an average passenger car.

This system has been delivered as part of Shand Higson’s move to drive its sustainability agenda as a leader in the wholesale packaging materials and repackaging marketplace. Shand Higson is employee owned and as a business where its staff drive and own the corporate goals it is important that an environmental focus features in the Company’s strategy.

Also key to Shand Higson is delivering value to its clients and by substantially reducing its energy supply costs through the installation of the Centreco solar energy system so the Company has effectively hedged one of its significant overheads to a level well below market rate and insulated the Company from future electricity price inflation. This move contributes to Shand Higson’s cost effectiveness in their sector for the long term.

The Centreco solar energy system will produce electricity at an equivalent fixed electricity cost of just 5.9 per kWh over the next 25 years.

Using their wealth of knowledge and experience Centreco designed and modelled the solar energy system to match Shand Higson’s electricity usage profile and site layout, using redundant roof space to generate electricity the system offers premium returns as a result and increases the value of the Company’s property asset.

Mark Dyes, Operations Director at Shand Higson commented “Shand Higson was established in 1828 and has provided its customers with quality products and great service at competitive prices from inception. As an established, employee-owned business we wanted to add an environmental feature in our offering to differentiate ourselves and stay ahead of the market through sustainable initiatives and maintain a low energy supply cost base to enhance our competitiveness.

We had therefore been contemplating self-generated solar energy for a while at our base in Knowsley. Centreco came along and made the process very easy for us, we were impressed by their large number of similar installations and great industry reputation. They made things very easy for us. They have designed and installed a system that delivers the benefits we are looking for and future-proofed our energy supply for the site. We are very pleased with the system and its installation. Centreco were first class.

Centreco continue to lead the commercial solar energy systems market in the United Kingdom, and this latest project adds another successful installation for the business to the over 200 commercial systems already delivered by Centreco.

Chris Duffy, senior energy consultant at Centreco commented, “ Shand Higson are a long-standing high quality packaging materials business. They do things right and by establishing that a solar energy system would deliver environmental and cost benefits they have moved to stay ahead in their market place. Centreco were only too happy to work alongside the team at Shand Higson to bring this installation to fruition in a timely and cost effective manner. Like all of our installations the benefits of a Centreco solar energy system will offer immediate returns and will serve the client well for the long term.”

22nd March 2023

Month: March 2023

Centreco further increases solar energy deployment

Centreco deliver green energy generation for Shand Higson

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