Downing is delighted to partner with specialist solar developer and consultancy Ennoviga Solar Limited (Ennoviga) to develop and construct a portfolio of five ground-mounted solar generators that will exclusively serve Northumbrian Water Limited (NWL).
Downing’s investment amounts to £3.7 million and represents its first investment into solar assets commissioned by a UK regulated utility company.
NWL supplies mains water and sewerage services to 2.7 million people across the northeast of England, with its service area reaching between Berwick to just south of Darlington and Middlesbrough. The solar generators will generate a total of 5.7 MWp of electricity that is delivered directly to NWL operational assets and so contributes meaningfully to NWL’s 2027 net zero target.
Paul Barker, Investment Director at Downing, commented: “We’re really happy to be joining forces with Ennoviga to deliver this vital project for NWL. NWL has the UK’s most ambitious net zero ambitions and by delivering for NWL, Downing further underlines its commitment to responsible investment. Partnering with Ennoviga has been a refreshing experience. Stefano and his team’s experience and drive for delivering high-quality solar assets set a great foundation for a successful project.”
Stefano Gambro, Managing Director at Ennoviga, agreed: The need for energy-intensive industries, such as water companies, to reduce their carbon footprint has never been greater. By combining with Downing’s expertise and passion for developing renewable energy assets, I believe we will achieve our goal.”
Anthony Browne, Energy and Decarbonisation Manager at Northumbria Water said: “solar power is a key component of our industry-leading Net Zero 2027 commitment. NWL are the first and only water company to use 100% of our sewage waste to produce green energy and we already have 9 hydroelectric power stations at our sites. Working with Downing and Ennoviga has enabled us to accelerate our renewable energy programme – delivering benefits for the environment and helping us to keep water bills low”.
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About Downing LLP
Downing is a fast growing, entrepreneurial investment manager based in the City of London. We believe a great investment opportunity isn’t just financial, it’s a chance to invest in things that matter – our environment, our health, our society, our local communities and our economy. Our ability to adapt and innovate to create investment products for our customers is key to our growth and success and our core values are vital to everything we do – from the businesses we invest in to the people we hire.
About Ennoviga Solar Limited:
Based in the UK, Ennoviga Solar is a network of solar and energy industry professionals in Europe. Inspired by the unrelenting downward price trend in the solar market, and recognising the increasing value that integrated solar and embedded battery storage can create for large-scale power users, Ennoviga Solar was established to develop large-scale solar projects embedded into client's infrastructure.
The company was founded in 2010 by a group of experienced friends and colleagues who at the time were working at senior levels in the oil and gas sector for a major international energy company.
Over time, Ennoviga Solar's skill in working seamlessly with large corporate clients was recognised and enabled us to offer consulting.
About Northumbrian Water Limited:
NWL supplies water and sewerage services to just under 4.4 million people. In the north east of England, NWL trades as ‘Northumbrian Water’ where its supplies water and sewage services to 1.3 million properties. In the south east of England, NWL trades as ‘Essex and Suffolk Water’ supplying water to 794,000 properties.
Having already slashed its emissions from 303,000 tonnes of CO2e in 2008 to just 56,000 tonnes in 2020, NWL has set itself the industry-leading target of achieving net zero operational emissions by 2027. NWL’s Emission Possible plan sets out how the company will use renewable energy, green vehicles and innovative process changes to achieve Net Zero.
NWL’s action and ambition on climate change meant that NWL was welcomed into the world’s largest alliance on climate change after being approved by the United Nations to become part of its Race To Zero campaign.