The Norwegian state-owned energy company can now provide public organisations in the UK with fully funded behind the meter solar solutions. Re:fit is jointly owned by the Greater London Authority and Local Partnerships and helps public organisations to save time and money, by avoiding lengthy procurements.
“We are so proud of being part of the framework. It’s a great example where Statkraft can deliver what matters,” says Alex Goodall, Head of UK Solar – Markets, responsible for Statkraft’s fully funded solar turnkey solutions for private and public sectors.
He adds: “Statkraft can provide a funded off-balance sheet solar solution, without incurring any type of land lease. This efficiently helps to lower bills and carbon emissions for local councils, government departments, the National Health Service, universities/colleges and schools. We support public organisations with the renewable energy revolution, reducing CO2 in response to the climate emergency.”
Statkraft will offer solar power purchase agreements (PPAs) that fund install, maintain and insure any solar PV and storage solutions, on or near sites. It would be a private wire (“behind the meter”) PPA, regardless of whether the public organisation leases or owns these buildings and/or sites.
Given that the proposition is capex free/fully funded by Statkraft, the consumer would be able to achieve PnL savings from day one, in the region of approximately 30% on delivered power. The solution is also lease-free and off-balance sheet, e.g. does not constitute an operating lease under IFRS16.
This funding approach is very suitable for public sector customers, as the generated renewable electricity is paid for via the PPA. This ensures that public sector funding and any savings generated, are used to support front line services.
The renewed Re:fit framework is live from April 2020. It has a capacity to deliver up to £1.5 billion of public sector energy improvements, over the next four years. In the past eight years Re:fit has been a successful tool for public organisations to provide tailored energy renewable and efficiency solutions. The programme will help to provide lower bills and CO2 emissions for local and/or government authorities.
The renewed Re:fit framework is jointly owned by the Greater London Authority and Local Partnerships, a joint venture between the Local Government Association, HM Treasury and the Welsh Government. It helps public organisations in England and Wales to save time and money while at the same time enabling the public sector to reach net zero emissions by 2050.