Balance Power launches Net Zero Power
Balance Power launches the Net Zero Power brand to help businesses connect directly to clean energy and cut energy bills.
As large energy users continue to be disillusioned at paying for energy where the price is dictated by volatile wholesale costs, leading independent energy developer Balance Power identified an opportunity for businesses to benefit from large-scale clean energy projects.
Net Zero Power focuses on working with businesses to reduce costs and reach their net zero targets through clean, on-site energy generation, feeding power directly into businesses. Drawing from Balance Power’s experience in delivering robust grid-scale projects with strong commercial returns, Net Zero Power offers businesses a unique energy opportunity.
Net Zero Power’s offering will include an assessment to determine the optimum energy solution tailored to individual business needs, be it rooftop solar, ground-mounted solar, battery energy storage system (BESS) or green hydrogen.
In cases where an onsite solution cannot be achieved, Net Zero Power will work with landowners willing to host clean energy projects close to high-energy-consuming businesses. This will provide further benefits to wider communities through diversifying income streams for landowners, reducing surrounding pollution levels and helping local businesses stay competitive by lowering costs.
The launch follows Balance Power’s announcement of a partnership with TagEnergy in October 2023, to build, own, and operate 500MW of energy projects. The partnership will drive the UK forward on its journey to establish a clean, secure energy system and will require an investment of over £300m to build the projects over the next four years.
Phil Thompson, CEO of Balance Power and Net Zero Power says: “For years we have been developing projects that have made a meaningful impact on providing low-cost energy to the grid and decarbonising energy supplies. However, once this power is in the grid many additional charges are passed to businesses. It has long been our goal that the energy we generate can be consumed directly by local businesses, thus significantly reducing costs. As businesses come under increasing pressure to reach net zero and strive for ways to create a competitive edge, we can now help them reach their goals while continuing to work with landowners, communities and local authorities to fundamentally shift how the UK produces and uses power.”
Nick Provost, General Manager, of Net Zero Power says: “We continually hear of businesses worried about meeting their energy targets because of leasing agreements or because they simply don’t have the space. Our project development expertise helps businesses overcome obstacles and provide solutions that others have not been able to. No company should be left behind in the drive to reach net zero, and we can help ensure they contribute to and benefit from the energy transition.”