Cork-headquartered energy solutions business Verde Energy Group’s €20m Green Fund focuses on helping businesses reduce their carbon footprint by using energy-efficient technologies.

Verde Energy Group has revealed a €20m Green Fund to support the installation of technologies including electric vehicle (EV) chargers, solar photovoltaic panels and energy efficient LED lighting, all controlled using its ENWARE software-as-a-service platform.

The business model funds client installation using a combination of these technologies over a three-to-five-year period, with clients paying a monthly fee rather than paying upfront.

“For businesses, providing a more EV friendly environment for employees and customers is a big opportunity to become cleaner, more sustainable and more efficient”

The diversification in the business to provide EV charging and solar photovoltaic alongside its LED and Saas plaforms will create an additional 30 jobs over the next two years, the largest recruitment drive by Verde since its inception in 2010.

Digital diversification

Previously known as Verde LED, Verde is best known for offering a wide range of lighting solutions using premium LED chip technology primarily for commercial purposes.

“Creating cost-saving, energy efficient solutions is the way towards a more accessible and greener Ireland,” said Verde Energy Group co-founder and CEO Paul Martin.

“The new fund offers a real win-win option for clients who wish to upgrade to energy saving solutions without bearing the full costs of upfront payments, with the added benefit of improving their carbon footprint.

“The adoption of electric vehicles in Ireland is accelerating, and the Climate Action Plan commits to a target of 936,000 electric vehicles on Irish roads by 2030, so ensuring there is the necessary infrastructure in place to support this step up is crucial. For businesses, providing a more EV friendly environment for employees and customers is a big opportunity to become cleaner, more sustainable and more efficient. Most companies offering EV charging are currently doing so on a “Plug and Play” basis, meaning there is no cost to the employee.”

Martin said that good roof space provided by commercial properties such as manufacturing, distribution and pharmaceutical facilities make Solar photovoltaic a worthwhileinvestment for them.

“Solar PV systems transform the energy from the sun into electricity, which then powers a building’s energy requirements. Depending on the size of the installation, Verde Energy Group aims to cover the base load of a facility to minimise wastage, generating 30-50% electricity requirements from PV.”

For those looking to reduce their carbon footprint and reap the environmental benefits of retrofitting, Verde Energy Group is a one stop shop, with the added incentive of processing funding supports such as SEAI Grants, on the client’s behalf.

In addition, the Accelerated Capital Allowance Tax Incentive promotes the investment in energy saving products, and businesses can avail of the ACA tax incentive if they are in possession of any qualifying energy efficient equipment, such as EV chargers or Solar PV. While the EV Charge Point Grant is available to support the installation of EV Chargers by businesses and domestic customers.

Main image at top: Verde Energy Group co-founder and CEO Paul Martin

By John Kennedy (john.kennedy3@boi.com)

Published: 14 July 2021

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