RNS26 Sep 2023 09:38
Today 07:00
RNS Number : 5970N
eEnergy Group PLC
26 September 2023
26 September 2023
eEnergy Group plc
("eEnergy" or "the Group")
Contract Win
eEnergy (AIM: EAAS), the net zero energy services provider, is pleased to announce that is has secured a contract to provide onsite solar energy generation to its existing customer, Tudor Grange Academies Trust ("TGAT"). The Total Contract Value is £3.0 million, resulting in £1.9 million revenues to eEnergy which will be recognised across FY23 and FY24.
Tudor Grange Academies Trust, an existing customer of eEnergy, is a leading Multi Academy Trust of 12 schools based in the West Midlands. This solar contract marks the latest stage in a successful ongoing Net Zero partnership with TGAT.
eEnergy is providing TGAT with a fully funded 10-year service agreement, a financed solution which requires no upfront investment for the customer, providing significant long-term savings in a turnkey solution. As a result of this project, alongside other services provided by eEnergy, TGAT is expected to be able to self-generate 30.5% of its energy needs and, in addition to these savings, be able to export unused energy to the grid for additional income.
Steven Groutage, Chief Operating Officer of Tudor Grange Academies Trust, commented: "We are delighted to be working with eEnergy on this project, the next step in our journey to Net Zero. We teach our children about the importance of the environment and its protection, and what better way to do that, than practice what we preach. To be able to generate over 30% of our energy ourselves gives us flexibility and demonstrates to our pupils and the wider community that we are committed to providing a greener future for generations to come."
Harvey Sinclair, CEO of eEnergy plc, commented: "eEnergy's relationship with TGAT started with the provision of Energy Management services, including the use of eEnergy's eAuction platform to facilitate an online marketplace with 25 energy suppliers, for their gas and electricity supply, including zero-carbon options. We were pleased to be awarded the mandate in October 2022 for the provision of LED lighting across the Trust. This latest project illustrates eEnergy's ability to provide end to end solutions for management and provision of low carbon energy to organisations.
"We look forward to continuing to work with TGAT as it continues on its journey to Net Zero."
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