Vertu Motors Plc Targets Onsite Energy Production With £2.7 Million Investment
The UK’s third largest motor retailer group, Vertu Motors plc, expects that all of its electricity needs to be met through a mix of 100% renewable and clean energy sources by the end of this year, part of this will be self-generated onsite by roof mounted PV systems.
The Vertu Motors group, which operates 190 sales outlets across the UK through its Bristol Street Motors, Macklin Motors and Vertu Motors retail brands, has already begun installation of solar panels with seventeen dealerships already completed. The total investment is £2.7million. It anticipates that by the end of 2023, 40 dealerships will be generating electricity from roof-mounted PV, which will account for at least a quarter of their total consumption.
Over 70% of the Group’s current electricity purchased is via 100% renewable sources, by the end of 2023 100% of electricity purchased will be via 100% renewable sources.
To support energy efficiency and usage reduction strategy the Group is exploring ways to make its dealerships more energy efficient. This includes a £1.2million investment to replace power hungry lighting with LEDs, which will reduce total consumption for the Group’s entire estate by up to seven per cent.
Robert Forrester, Chief Executive of Vertu Motors plc, said: “Vertu Motors is setting the standard for the motor retail industry. The sector has some of the least energy efficient properties in the UK, around three-quarters of which have the lowest EPC ratings of E, F and G. We have a responsibility to be a sustainable business, not only financially, but environmentally."
“Our 100% renewable and clean onsite electricity generation solutions will deliver the best value for the Group and its shareholders in the face of a volatile energy market. With an increased focus on electric vehicles and the accompanying charge points, we expect our energy use to increase over the coming years and therefore securing a consistent responsibly sourced supply at a fixed rate is vital for our ongoing success.
“Our approach to reducing energy liability looks at both sides of the equation. By taking steps to secure our own power and minimise wasteful consumption, we place the business in the best position possible to achieve the greatest value for our shareholders.”