Treasury allots £10m to energy efficient car parks

Brits will be pulling into energy efficient car parks next year as a multi-million pound pot of cash to fund new lighting systems was announced today. The Government is giving […]

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By Vicky Ellis

Brits will be pulling into energy efficient car parks next year as a multi-million pound pot of cash to fund new lighting systems was announced today.

The Government is giving national off-street parking firm NCP a £10million guarantee for installing energy saving lighting equipment at 149 of its 500-odd sites.

Switching to LED lights is expected to cut the sites’ energy use by 60%, according to the Treasury’s National Infrastructure Plan 2013.

Jo Cooper, CEO of NCP said:“This has a big impact operationally and financially.  Most importantly of all the car parks will be fully lit and energy efficient, improving the sites for all our customers and helping us achieve our environmental goals.  We look forward to addressing other energy efficiency areas where there are tangible wins for NCP moving forwards.”

She added the firm had been looking for a partner in the energy contracting market for a “wholesale upgrade” of its lighting and it was pleased to get an “off-balance sheet” deal which didn’t need up-front investment.

Lighting specialist Future Energy Solutions will carry out the retrofit, with cash from a fund managed by commercial funding body Sustainable Development Capital (SDCL). The Green Investment Bank is an investor in SDCL.

Chief Executive of the Green Investment Bank, Shaun Kingsbury said:“This project is important because it offers a demonstration, to all businesses, that energy efficiency is, first and foremost, good business sense. NCP will see the cost of the entire retrofit project more than covered by the savings.”

Chief Secretary to the Treasury, Danny Alexander said he hoped other infrastructure projects come forward to see how a guarantee might be able to help them.

The multi-storey car park firm sourced 100% of its electricity from green sources in 2010, according to its website.

NCP is owned by European investment fund Macquarie which has also invested in Thames Water, German energy services firm Techem and Swedish district heating firm Värmevärden.