Pinergy launches €30m local ‘solar-as-a-service’ scheme

ENERGY company Pinergy is calling on businesses in Co Cork to avail of its €30m fund to provide solar services to commercial users. 

The funded solar service would see Pinergy design, install, and maintain solar PV installation services in commercial properties without any capital outlay for the business. The client would  agree a Power Purchase Agreement (PPA) with Pinergy to buy electricity generated by the solar panels at  a lower cost than prevailing prices from the grid. 

‘The Pinergy Solar Fund is our solution to meet the needs of many businesses, who are not ready to make the upfront capital investment that Solar projects traditionally require,’   Pinergy chief executive Enda Gunnell said. 

‘Our new solar-as-a-service offering ensures Pinergy fund the initial installation and maintain the solar PV project, while at the same time our clients benefit from certainty and reduced energy prices for the next 25 years.’

Pinergy says clients would see their operating expenses and cashflow improve as they will require less electricity from the grid. The firm believes that when the €30m fund is fully taken up, the renewable energy generated would meet the equivalent needs of 7,000 typical homes, reducing demand on the grid.

The initiative aimed at a range of sectors including retail, hospitality, leisure, manufacturing, logistics, pharma, and industrial sectors who have seen their grid energy costs increase in recent years. Businesses of various sizes with available roof space can utilise renewable energy to reduce their carbon footprint and move towards a more sustainable business model. 

‘Many businesses have been faced with rising operating costs due to volatile energy markets,’ Mr Gunnell said.