Sunnny outlook for solar power firm

New Energy and Building Services Solutions, which was established in 2022, achieved a turnover of £1.9m in its first year and is anticipating a huge increase in turnover this year.

Based at Boldon Business Park, the renewable energy installer, led by managing director, David Kay and chief executive, Tony Lister, currently has a headcount of six, but is expected to increase this to between 15 and 200 people by next year – with turnover on target to reach up to £10m.

The firm is a specialist in commercial and residential solar PV installations and operates all over England and Scotland – offering a range of solar panel and battery storage projects.

Recent projects have included the installation of around 5,000sq metres of photovoltaic panels at Hillthorn Business Park, Washingon.

The panels capture solar energy and convert it into electricity, generating energy that will allow a building’s occupants to reduce their energy costs and achieve ‘net zero’ carbon emissions.

The company has also recently secured two major contracts to provide both domestic and commercial installations at sites throughout the UK and will also undertake its first installation in early July for the Blackrose Pub Group.

Mr Kay, said: “I come from a construction background and was previously a shareholder at what became the largest solar PV company in the North East, so I have a lot of experience in this market.

“After a very buoyant first year and significant contracts confirmed for 2023, we calculate that there will be exponential growth in turnover in 2024, as a result of unparalleled customer demand and multiple contract success across the UK.”

He added: “The increase in business is down to a number of factors, including repeat business and organic growth with existing clients across both domestic and commercial settings.

"The commercial market is exceptionally buoyant as organisations prioritise sustainability and their carbon reduction strategies.

“In the coming months, we will be actively recruiting for a number of positions, as well as looking for larger premises to accommodate our growing team as we gear up for rapid growth.”