Amid the UK’s continuing economic slump, EuroSite Power claims its self-financing model is opening up multi-site combined heat and power (CHP) deals.
Through its On-Site Utility Solution, in which EuroSite takes on all investment costs, the firm is closing increasingly large contracts in the hotel sector, Managing Director Paul Hamblyn told COSPP.
‘We’re busy looking to close tens and twenties of sites rather than ones and twos,’ he said.
A 100 kW EuroSite CHP plant has just started operating at London Syon Park, a Waldorf Astoria Group hotel near London, where it will supply electricity, space heat and domestic hot water.
Under EuroSite’s On-Site Utility Solution, customers only pay for the energy they consume, without taking on capital, installation or operating and maintenance costs. Deals typically run for 15 years.
Since entering the market 18 months ago, EuroSite has grown through having capital to fund projects while customers shun investment in the downturn, said Hamblyn.
‘Companies are not investing heavily in non-core activity such as the plant room – it’s at the bottom of the list,’ he said.
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