Forrest finds solar finance
24 April 2012
Social housing contractor Forrest has launched a new financing scheme to restart stalled solar energy projects.
The firm has agreed a deal with renewable energy company Dimplex Renewables to fund the installation of solar panels on social housing.After the government halved the feed-in tariff (FIT) available for solar panel installations, it was expected that social landlords would have to invest their own capital into projects to get them off the ground.
However, the deal between Forrest and Dimplex allows the installation of photovoltaic (PV) panels to be funded by the private sector, with the contractors making their money back over a 15-year period.
“There has been a lot of hot air about the death of solar PV but with the right approach this energy revolution can still transform thousands of homes across the UK,” said Forrest chief executive Lee McCarren.
