Independent energy firm invests over £27m into 'green' electricity for region

According to research by energy company, SmartestEnergy, renewable energy projects developed by businesses to power manufacturing facilities and commercial buildings across the region are now generating almost £10m worth of electricity a year.

SmartestEnergy found there are now 29 commercial-scale onsite renewable generation projects in operation in the North East after a total investment of £27.9m.

With a combined capacity of 50 megawatts, the sites are capable of generating £9.8m of electricity a year. This is enough for more than 59,000 homes.

Iain Robertson, vice president of renewables at SmartestEnergy, said: “The reduction in subsidies has inevitably slowed growth in the independent generation sector.

“But these latest figures underline the significant role energy entrepreneurs continue to play as the UK shifts to a decentralised, decarbonised and digitised energy system.”

The average spent on each onsite project, which include solar panels on warehouses and wind turbines at manufacturing sites, in the region stands at £961k.

Across the UK, the Energy Entrepreneurs Report shows more than £227m was invested in 400 new independent renewable energy projects in 2017.

However, as renewable subsidies continue to fall away the pace of growth in the sector was the lowest seen since the report was launched in 2012.

Although growth has slowed, SmartestEnergy’s Energy Entrepreneurs Report underlines the significant contribution the independent sector is making in meeting energy needs.

More than 8.4 million households can now be powered by renewable energy projects outside of the traditional energy supply sector. In total they make up 9.2 per cent of the country’s energy mix.

Want your business, product or service to be seen regionally and nationally? Bdaily helps you get your story in front of the right audience, every day. Find out how Bdaily can help →

Join more than 55,000 subscribers by signing up to our daily bulletin each morning here.