Investor Downing LLP has been appointed by Yorkshire Water to develop a group of 28 solar sites across the region.
The £25m project will generate capacity of 21MW and will contribute to the utilities firm's 2030 net zero pledge - providing about 4% of its annual needs - with all electricity consumed on site. Downing has partnered with net zero consultancy Ikigai which is acting as a "behind the meter" co-development partner throughout the process.
Sean Moore, investment director at Downing, said: "We’re delighted to be partnering with Yorkshire Water for this solar project. Assisting a national utility company with its goal of reaching net zero by 2030 is a superb example of Downing’s commitment to responsible investing. We are delighted to support energy-intensive industries such as water companies in making progressive strides to reduce their carbon footprint."
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Martin Clarke, project director and Water Sector lead at Ikigai, added: "This project demonstrates how water companies can achieve the mutual objectives of decarbonisation and better consumer value through externally financed onsite energy solutions. It has been a pleasure to work so closely and collaboratively with Yorkshire Water and, one of the UK’s leading ESG investment managers, Downing."
Daniel Oxley, Yorkshire Water commercial programme manager, said: "This project is a significant step in reaching our aims of carbon net zero by 2030. Due to changes in the treatment process at our sites over recent years, many have been left with surplus operational land which can be used for the generation of renewable energy.
"These have been identified and will become home to new solar panel arrays. Once completed, the first deployment of solar panels will generate 4% of our annual power needs, increasing our renewable energy use, reducing our exposure to energy price volatility and reducing the operational costs of our sites, which will provide better value for money for our customers."
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