Scottish & Southern Energy is to take a 40% stake in a new company set up to offer low carbon solutions to business, local authorities and householders.
The venture will be called Anesco and a further 40% of it will be owned by clean-tech investment firm zouk ventures, with the final 20% held by the Anesco management team.
Anesco’s chief executive Adrian Pike and chief operating officer Tim Payne both previously held senior management positions in SSE Contracting.
Anesco will offer a variety of products, including property insulation, solar photovoltaics, solar thermal and maintenance of microgeneration installations.
SSE’s investment in Anesco is similar in scale to those it has made in other new or developing sustainable energy ventures.
SSE Energy Supply Director Alistair Phillips-Davies said: “There is likely to be major growth in energy efficiency and low carbon products over the next decade. SSE retains a direct, active and growing interest in this sector. Investing in Anesco provides us with another catalyst for growth in this area, and this blend of direct and indirect participation in these growing markets gives us a strong position for the future.
Zouk chief executive Samer Salty added: “Commercial and domestic demand for energy efficiency solutions will increase dramatically over the coming years, creating a market in the billions per year from the strong support by the UK government and regulators.”