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TGE Group signs multi-million pound financing deal

TGE md Rupert Higgin
TGE md Rupert Higgin

Cheshire-based TGE Group has agreed a financing deal with Macquarie Lending to supply PV systems for commercial buildings across the UK. 

The programme will allow TGE Group to access as much as £100m from the global investment firm to fund commercial solar-power installations across Britain.

The offer is available to owners of warehouses, retail units, farms and businesses with near south facing roof areas and comes with a 20-year maintenance agreement after which ownership of the installation reverts to the customer.

Organisations that sign up for the free solar PV installations can enjoy greater control over electricity pricing for the next 20 years.  TGE Group will be able to install the technology on any commercial properties including buildings which have pitched or flat roofs. The capital investment will be repaid through a combination of Power Purchase Agreements (PPAs) and the Feed in Tariff (FIT), the government scheme to reward property owners who produce their own electricity.

“As an experienced commercial installer, we are pleased to be selected by Macquarie to take on this project,” said TGE Group managing director, Rupert Higgin. 

“Commercial rooftop installations have been held back in the UK by economic uncertainty and cash flow constraints, yet this is the sector that has the most to offer. We hope that the investment by Macquarie will unlock the potential of this market sector and help the UK achieve its renewable targets.”