Solar plant at garb provider’s Manchester headquarters established possible by dark-green loan from HSBC
David Luke Schoolwear, one of the UK’s biggest clas attire providers, has installed more than 1,000 solar battery on the rooftop of its headquarters in Manchester, in a move designed to slash energy bill costs and curb its environmental footprint.
The completion of the project was announced this week by HSBC, which provided the family-run business with a “six-figure” loan to finance the clean-living vitality project.
David Luke Schoolwear is now expecting to save up to 3,600 tonnes in carbon emissions over the 25 -year lifetime of the 295 kWh installation, which covers an an area of 1,700 square metres, it said.
Kathryn Shuttleworth, managing board of David Luke Schoolwear, indicated by the savings generated by the solar facility would pay back the upfront installation cost of the regalium within eight years.
“We’re delighted to see the completion of this project, the latest in a germinating roll of successful green strategies across the business, ” she said. “These solar panels support our long-term sustainability targets, but the financing will also recognize monetary returns, with the solar roof expected to pay for itself in cost savings after only seven to eight years.”
She added that the project was “the latest in a proliferating roster of successful light-green initiatives” from the business, which also includes making garbs from recycled polyester wool from plastic bottles.
HSBC’s relationship director Richard Beaumont said the light-green lend required in order to David Luke Schoolwear was the first the bank had required in order to a mid-sized enterprise in the North of England. “We’re unbelievably proud to be to finish the deal with David Luke Schoolwear, ” he said. “The family-run business has proven its dark-green credentials at the highest level and this investment in solar panels signals another positive move for the future.”
Meanwhile, Robert King, the bank’s head of sustainability, indicated by the light-green loan programme was a critical element of the bank’s drive to becoming a’ net zero’ institution by mid-century.
“The work being done on HSBC UK green credits across the country is innovative and an integrated part of our commitment to help business thrive in the transition to cyberspace zero, ” he said. “By supporting SMEs, mid-sized enterprises and sizable corporate organisations with dedicated sustainable funding, we can ensure the long term financial and environmental health of UK businesses.”
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Read more: businessgreen.com