Energy Saving Investments has invested £4.9m, with a further £5.1 million of investment mobilised from the Equitix Energy Efficiency Fund.
Roundwood Energy is responsible for financing, installing, maintaining and fuelling new renewable heating systems for up to 20 years. According to the company, the investment will allow for the funding of over 60 projects, benefitting a varied mix of public and private sector organisations including care homes, schools, leisure facilities and local authority projects through the replacement of inefficient heating systems.
Michael Rudd, partner, Bird & Bird said: “We are delighted to have advised Roundwood Energy on this first, important deal, and look forward to assisting it as its business grows. We are grateful to be working with a broad stakeholder community who share a common commitment to grow the energy efficiency market.”
Paul Hughes, director of Roundwood Energy, said: “We are delighted to have received the support and funding. This backing allows Roundwood to reduce both the energy bills and the carbon emissions of our clients without the need for up-front capital investment. The support of our partners, Woodpecker Energy and advisors, Bird & Bird and BDO has been invaluable in enabling our business to move forward to provide a groundbreaking long-term solution for our customers.”