UGE International Ltd., a leader in renewable energy solutions for business and government customers, has been selected to supply a solar energy system at the Beijing facility of The Redwood Group, a specialized logistics investment firm.
Financed with a Power Purchase Agreement at zero upfront cost to Redwood, the 248 kW on-site solar energy system will significantly reduce energy costs, operating expenses, and the firm's carbon footprint.
The UGE solar system is the first fully-financed project for The Redwood Group in China, and will reduce the facility's electricity rates in the first year, and every year thereafter. UGE will supply the full end-to-end solution, including system design, procurement, and installation, and financing. The project is fully financed through the recently announced partnership between UGE and Blue Sky Energy Efficiency.
"The Redwood Group is making a powerful choice by utilizing on-site solar energy," said Rosie Pidcock, Senior Business Development Manager at UGE. "They are immediately lowering their energy prices, while hedging against China's rising commercial power prices, which continue to climb every year."
Sustainability is an important aspect of Redwood's corporate responsibility, and the on-site solar system will not only reduce operating costs, but will complement the company's commitment to building energy efficient warehouses, as well.
"Redwood prides itself on its commitment to sustainability," said Oliver Treneman, Managing Director of the Redwood Group. "The Beijing project is the first of many that will solidify our commitment to China's push for sustainable buildings."
Renewable energy deployment continues to grow rapidly in mainland China. UGE has designed energy solutions leveraging solar, wind and battery storage for customers in China including BMW, GE, and the Cities of PingQuan and Tangshan, as well as worldwide for customers such as Whole Foods, Hilton, and Dropbox.