£12 million landmark deal for Coventry-based GET Solutions UK
In a landmark deal, Coventry-based GET Solutions UK – a leading energy solutions provider to businesses – has entered into an agreement to sell an initial portfolio of 15 highly efficient Combined Heat & Power (CHP) units in branded UK hotels to SDCL Energy Efficiency Income Trust plc (“SEEIT”) for ca. £5 million. The capital will be drawn down over the next four months and represents the first stage of a pipeline of over £12 million of CHP projects in the UK over the next year. GET Solutions will continue to manage these assets for SEEIT under a long-term contract
GET Solutions have also identified a longer-term pipeline of over 100 energy efficiency and distributed generation projects, with a further £30million earmarked by SEEIT for investment.
With over 20 years of industry experience, GET Solutions has gained an enviable reputation in the energy sector. These projects have all been developed through GET Solutions UK ‘s The Energy Revolution® scheme. The scheme enables business owners to reduce carbon emissions as well as energy and maintenance expenditure. The projects are installed and maintained by GET Solutions’ engineers, who are fully accredited and trained by globally leading CHP manufacturers. Crucially, the energy interventions implemented under The Energy Revolution® schemes require no capital expenditure by the customer.
The initial portfolio comprises four operating, two installed and nine ready to build projects. The projects involve highly efficient CHP systems installed at Holiday Inn and Crowne Plaza hotels, which are both brands of the Intercontinental Hotel Group.
This is an exciting time for The Energy Revolution®, as we continue our mission to help businesses rethink how they consume energy and look to cheaper, cleaner, and more efficient ways of producing it.
Alan Dodd, Managing Director “We are excited to be taking a big step in fulfilling our ambition as a company that can make a huge impact in the energy sector. SEEIT’s investment in our projects and pipeline offers a great opportunity to accelerate our efforts to reduce greenhouse gas emissions and generate cheaper and more efficient energy. It is also great kudos to our team and the work we’ve been doing, to receive investment from the first listed company of its kind to invest exclusively in the energy efficiency sector”
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