Mitie and Sustainable Development Capital LLP (SDCL) have joined forces to help clients to roll out large-scale decarbonisation and energy efficiency projects.
Mitie will supply engineering and energy management support to help customers design and manage their sustainability projects from end to end, while investment firm SDCL will organise provision of capital funding for the projects and make it available for use by customers, with fees linked to an energy services contract.
The partnership aims to help both public and private sector organisations to plan their decarbonisation roadmaps and fund the low-carbon equipment and technology they need to achieve net zero sites.
Through this collaboration, Mitie and SDCL will oversee the roll out equipment such as solar panels to generate renewable energy on-site, as well as air and ground source heat pumps to transition buildings from gas to electricity-based heating systems, to decarbonise buildings and improve their energy efficiency.
Mitie said that research carried out on its behalf by Verdantix in June reveals that finance executives believe that limited expertise (50 per cent) and access to capital (34 per cent) are among the key factors limiting their businesses’ investment in decarbonisation,
It added that this partnership would help to remove some of the roadblocks to net zero.
Starting with the auditing of sites to collect baseline energy consumption and carbon emissions data to identify the right solutions for each building, Mitie will then use this roadmap to help its customers procure, install, and maintain the equipment to decarbonise and make sites more energy efficient.
SDCL will selectively provide capital to fund delivery and installation of the solutions identified by Mitie, so that organisations aren’t encumbered by large upfront capital investments. SDCL will maintain long-term ownership of the projects, making them available for use under an energy services agreement.
Pradyumna Pandit, Mitie’s managing director, energy and sustainability, said: “Tackling the built environment is essential for decarbonising Britain. There are many technologies available today that are proven to help businesses reduce costs and carbon emissions from their sites, however, large upfront capital costs mean that many are delaying their actions towards reaching net zero.
“This partnership with SDCL will help more businesses overcome these challenges and go further, faster towards their net zero transition while ensuring their operational costs stay on track. We look forward to using our energy management and engineering expertise to help customers with every aspect of their decarbonisation journey.”
Jonathan Maxwell, CEO and founder of SDCL, added: “Investing in decentralised and efficient energy solutions can contribute to over half of global carbon emission reduction targets by 2030. On-site energy and energy-efficient measures are commercially and technologically proven and capable of implementation at scale today.”
This initiative forms part of Mitie’s Plan Zero commitment to reach net zero for its operations by 2025 and to help its customers implement solutions to reduce their carbon emissions. Mitie has helped clients to cut over 353,000 tonnes of carbon, the equivalent to around 11 times Mitie’s own annual emissions over the past decade.
Image credit | Mitie