Energy GreenWire: More businesses becoming energy entrepreneurs

Many schemes were put on hold during the downturn but a more stable finance market and new incentives for generators, such as the Feed-in Tariffs, has led to a rapid increase in the number of independent projects coming on stream over the past year.

"Over the last 12 months we have seen an increasing number of businesses, communities and landowners looking to become energy entrepreneurs to provide new income streams and reduce their own energy bills," said Mark Knights, head of Business Development for SmartestEnergy.

The increased investment in projects will see the company hit a new record this year. In the financial year to March 31, SmartestEnergy will have purchased more than five terawatt hours (TWh) of power – an increase of more than 50 per cent on the previous year.

The significant increase has further strengthened SmartestEnergy’s position in the market with a total portfolio capacity equivalent to more than a traditional coal or nuclear-fired power station and enough power to supply a million homes.

"These figures demonstrate how the output from a large number of independent generators soon adds up to help meet the twin demands of a low carbon electricity supply and energy security, far more quickly and cost-effectively than traditional, centralised options.

"Smaller projects have lower financial risk and can start generating power far more quickly than the larger scale power plants. In addition, each project operates as an SME in its own right, encouraging entrepreneurship and acting as a multiplier in the local and wider economy."

SmartestEnergy supports a diverse portfolio of independent generators ranging from 100kW to 100MW and representing technologies such as hydro, wind, biomass and anaerobic digestion.

Related link:
www.smartestenergy.com