Hitachi Rail Europe’s enjoys solar PV without the capital cost
This 1 MW solarPV system will power Hitachi Rail Europe’s first train-manufacturing facility in Europe. It is at Newton Aycliffe in County Durham and will comprise 3800 mono-crystalline solar modules from Trina Solar and 28 PowerOne Trio27 inverters. It is being installed by Photon Energy.
The project is a framework agreement between Photon Energy and Macquarie Lending, which is financing the project. The approach enables organisations with a large roof area to benefit from long-term low-cost green electricity and lower carbon emissions without investing in the infrastructure.
The 20-year arrangement involves Macquarie Lending leasing the roof space, financing the capital cost of the solarPV installation and receiving the Feed-in Tariff. The electricity is sold to the building owner.
The price of electricity is linked to the Retail Price Index. At the end of the 20-year contract period, Hitachi will take ownership of the installation.
