Future Energy Solutions to retrofit NCP car parks with LED lights
Future Energy Solutions (FES), a US company with a European office based in London, has signed a Supply of Services Agreement with National Car Parks Limited (NCP). Phase 1 of the project will involve the installation of over 60,000 energy efficient LED luminaires in 149 multi-storey car parks throughout the UK, from Scotland to the South Coast, in the first half of 2014.
This project will effectively re-light 45,000 car parking spaces and is expected to save 11,000 tonnes of CO2 emissions per annum. This project will also generate energy savings of over 65 per cent in the energy consumption of the car parks that are being retrofitted by FES and will be the largest deployment of LED lights in the United Kingdom this year, underpinning the growth and speed with which LED lighting technology is now being used by households, government and corporates.
This project, which is being financed through the energy cost savings over time, will deliver to NCP an enhanced, modernised and energy efficient portfolio of car parking sites at no up-front cost to NCP.
Phase 1 has been funded by FES in partnership with the UK Energy Efficiency Investments Fund which is managed by Sustainable Development Capital and funded by the UK Green Investment Bank.
This is the first transport infrastructure project to qualify for the Government’s UK Guarantee scheme which was launched in 2013 and was a vital component to the success of this opportunity.
The innovative funding model, put together by FES with its funding partner SDC, together with the commercial methodology which governs the deal and the technology solution which delivers the huge energy savings, all combine to make this, in many respects, a landmark UK deal.
Chairman of Future Energy Solutions, Anthony Lyons said “There are huge wins on a multitude of levels in this project. The deal has enabled Future Energy Solutions to deliver to NCP a lighting replacement scheme across a vast section of their car parking portfolio, generating significant savings in energy for the client of around 70% and a reduction in related costs. The portfolio with efficient lighting technology installed, will have negligible maintenance costs moving forwards. Most importantly of all, the sites being retrofitted by FES will be lit brilliantly, enhancing safety and security for all users, making the environment within the car parks more inviting.”
CEO at NCP, Jo Cooper said “NCP has been seeking a partner in the energy contracting market to support and deliver a wholesale upgrade of our lighting systems across the Multi-Storefy Car Park portfolio. Future Energy Solutions and its funding partners have tailored a deal for us which is off-balance sheet, requires no up-front investment, dramatically reduces our operational costs for an extended period of time, and reduces our energy use substantially. This has a big impact both operationally and financially. We are also delighted that the FES sites will be well lit and efficient, improving the experience for all our customers and helping us to achieve our environmental goals. We look forward to addressing other energy efficiency areas where there are tangible wins for NCP with FES moving forwards.”
Chief Secretary to the United Kingdom Treasury, Danny Alexander said “I am delighted that we have been able to support this innovative investment which improves car parking facilities in 149 locations, making it easier for firms and families to access business opportunities in our city centres, and supporting growth across the UK.”
For further information, please contact:
Simon Conway, Chief Operating Officer UK
Tel: +44 207 908 3915