2nd December, 2013

A green deal provider has secured a £120 million contract to provide solar panels to social housing clients across England and Wales.

Forrest have predicted take up of the scheme will be ‘immense’ after securing funding for the deal from Macquarie Bank.

The bank will fully fund the installation of solar photovoltaic panels on suitable homes, with their investment repaid through energy generated being sold back to the grid.

Forrest will offer the panels to suitable homes within its social housing client base in the north of England, the Midlands and Wales, with negotiations ongoing for southern England and Scotland. 

South facing homes with no shade are considered suitable for the scheme, with a 20-year maintenance agreement included following installation.

£40 million of the funding will be directed towards privately owned homes.

Ted Macdougal, development director for Forrest, said: ‘In Macquarie, we have a partner with the long-term investment horizon that is necessary to help us deliver thousands more installations.

‘Those residents with concerns about such issues as rent payment and bedroom tax may be helped enormously and homes will be warmer and healthier as a result. We expect take up to be immense.’

Source: Inside Housing

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