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29 May 2024
Renewable Energy

Renewables Specialist Partners with Development Bank of Wales to Support Businesses on Path to Net Zero

A specialist renewable energy developer is working with the Development Bank of Wales to support businesses on the path to net zero.

Infinite Renewables Wales (IRW) will work with its equity partner the Development Bank of Wales to support Welsh businesses. By working together, IRW and the Development Bank can offer funding and renewable solutions to businesses right across Wales, including agriculture, rural businesses, tourism, engineering, food and drink and the service industry.

The aim is to make it easier for a business to access renewable energy whilst reducing its energy costs and improving its environmental credentials. To that end, IRW can establish how much energy is needed to operate a business and calculate how much renewable energy a business could produce to meet its power needs, recommend the most suitable renewable energy solution, manage the legal and regulatory aspects of an installation and agree a fair and competitive power price. IRW would also manage the system on the business’s behalf for the lifetime of the project. A business would not incur capital costs and would have an option to purchase the system in the future.

Infinite Director Andrew Crossman said:

“This is an exciting opportunity to route funded renewable solutions to high energy consuming businesses in Wales. We are especially interested to hear from owner occupiers or landlords who are keen to have roof solar installed to provide their business tenants with discounted energy. Solar power can be used in conjunction with ground and air source heat pumps to mitigate the running costs of the heat pumps, providing both a power and heating solution.”

Ashley Jones, Senior Investment Executive at the Development Bank of Wales, said:

“It was a pleasure to work with Infinite in setting up the new service, which will allow a wider range of business to access renewable energy generation and cut their energy costs, while removing much of the bureaucracy and initial costs normally involved. We know more and more businesses are interested in switching to greener energy sources, and the support provided via IRW will help even more businesses to make that change.”

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