Publicly funded Great British Energy has made its first major solar investment of £8.8 million into solar-thermal innovator Naked Energy.
The money will fund a new UK automated manufacturing facility for Naked Energy’s Virtu solar-thermal, with the view to bring production in-house and reduce unit costs.
The Virtu product includes a high-density solar thermal system capable of generating renewable heat up to 120C and hybrid solar PVT systems, that generate both heat and electricity from the same rooftop footprint.
The design allows 85% roof space to be used for energy generation, compared to 50% for conventional solar panels.
Christophe Williams, CEO of Naked Energy, said: “Heat is too often overlooked in the energy debate, despite accounting for a major share of fossil-fuel consumption.
“This investment will help us bring renewable heat to more hospitals, hotels, public buildings and industrial sites in the UK and internationally, while creating skilled jobs and export opportunities here at home.”
The technology can already be seen on buildings like the British Library and Wimbledon Tennis Courts. Great British Energy and Naked Energy will explore how solar-thermal can be installed on other public-sector buildings.
Dan McGrail, CEO of Great British Energy, said: “Cutting our reliance on gas is one of the biggest challenges we face, both for energy security and for keeping bills down.
“Naked Energy has developed a technology that tackles this head on and when you see it working at iconic UK institutions like the British Library and Wimbledon, you understand what is possible.”
Industrial and commercial heat still accounts for a significant share of the UK’s fossil fuel dependency, challenging the UK’s net-zero commitments.
Speaking about the deal Energy Secretary, Miatta Fahnbulleh said: “Homegrown, clean power is an opportunity to reindustrialise Britain as we’re backing UK supply chains to help deliver the energy transition.
“Great British Energy is supporting well-paid manufacturing jobs for communities, while providing cheaper and secure energy for households and businesses.”
The deal will involve a total of £8.8 million invested with GBE putting in £7.5 million and Barclays Climate Ventures adding the rest. The facility location is yet to be determined but is expected to create up to 40 direct skilled manufacturing jobs and around 100 indirect roles.
It’s hoped the investment will increase the deployment of rooftop solar in public sector buildings and the wider community.
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