March 24 (Renewables Now) - Macquarie Energy Leasing Ltd (MELL), part of Australian financial services group Macquarie Group Ltd (ASX:MQG), is moving into rooftop solar in Great Britain with the launch of a new business called OnStream Solar.
MELL, which has been active in rolling out gas and electricity metres in the UK since 2003, on Thursday said it will aim to create a leading commercial and industrial rooftop solar development platform. The new business will offer to fund and install onsite photovoltaic (PV) arrays for commercial and industrial (C&I) customers in exchange for a power purchase agreement (PPA).
OnStream Solar will initially target businesses in the cold storage, warehousing, logistics, data centres, manufacturing, food and beverage and retail and tourism sectors.
The company noted that especially in the current conditions of high electricity prices, rooftop solar allows consumers to reduce and stabilise their energy costs, while cutting their carbon footprint.