Funding solutions will make it easier and more affordable for growers to upgrade to market-leading, low-energy lighting solutions
LONDON, UK – 22 December, 2020 – GE Current, a Daintree company, has today announced a partnership with Aquila Capital, to provide funding solutions for growers looking to install low-energy LED lighting, through funds managed or advised by Aquila Capital*. The partnership will allow growers across Europe who are designing new indoor farming facilities, or upgrading existing installations to the latest lighting technology, to deploy Current’s range of Arize™ horticultural LED solutions, faster and with the aim of no up-front capital expenditure.
Projects financed through the new partnership have the potential to achieve CO2 savings of 30-40% vs existing installations, with repayment calculations based on a proportion of the future energy costs. By removing the financial barriers to the latest generation of horticultural lighting and by supporting growers through every step of their journey to LED, Current aims to help optimise the quality and volume of yields, whilst significantly reducing the environmental impact of indoor farming.
“The horticulture industry is well aware of its environmental responsibilities and the sustainability targets being handed down across all sectors,” commented James Fleet, Commercial General Manager, EU, ME & ANZ at Current. “Aquila Capital’s energy efficiency team is the ideal partner as it has already helped a number of European greenhouse operators to implement energy-efficient biomass technology at scale. The team understands the needs of European growers and can build bespoke, flexible financing solutions rapidly, allowing them to reap the financial and environmental benefits of deploying our Arize LED solutions immediately and with minimal risk.”
Bruno Derungs, Senior Investment Manager with Aquila Capital’s Energy Efficiency Team, said: “Our investment strategy is specialised on financing small-to-medium size energy efficiency projects for industrial or commercial companies, and implementing these projects in partnerships with experienced project developers. With Current, we have an excellent multinational technology provider as a strong partner. Our financing offering will further reduce the barriers for operators to run their greenhouses on the most innovative and energy efficient technology. We are excited to contribute to our common goal of driving forward the energy transition by supporting Current to realise additional projects.”
Notes to Editors:
*To the extent possible under applicable regulations in the relevant jurisdiction. Specific solutions tailored to the local markets may be offered in certain jurisdictions.
About GE Current, a Daintree company:
Current enhances commercial, industrial, city and specialty applications with advanced lighting and intelligent controls. Working with our partners, we deliver the best possible outcomes for our customers.
Current harnesses the power of light to enable never-before-possible methods of farming, ushering in a new era of agriculture. We aim to build a world where growers can produce higher yields, cultivate with greater precision, and grow sustainably, locally and year-round to fuel a brighter future. For more information, visit http://www.gecurrent.com/eu/horticulture.
About Aquila Capital:
Aquila Group is a leading investment manager in real asset solutions. Its sustainable investment strategy focuses on investments in renewable energy, energy efficiency, infrastructure, residential real estate, green logistics as well as timber and agriculture. Founded in 2001 as one of the first German alternative investment firms, Aquila Group currently manages EUR 11.1 billion for institutional investors worldwide (as at 30 June 2020).
Over the last decade, Aquila Group has built a truly pan-European asset portfolio with investments in the renewable energy sector amounting to a total capacity of 6.5 GW and over 2 million square meters of sustainable real estate and green logistics projects completed or under development. Through its investments, Aquila Group is committed to contributing to the European energy transition.
To create value for its investors, Aquila Group employs a fully integrated investment and asset management approach. With 14 offices in 12 countries, Aquila Group’s dedicated expert investment teams draw on their sector networks and experience to screen, develop, finance, manage and operate investments along the entire value chain.