Verdia working with Westpac on energy efficiency financing


Tuesday, 24 May, 2016

Energy services company Verdia has been appointed the manager of Westpac’s Energy Efficient Financing Program, announced last week. The agreement combines Verdia’s expertise in energy efficiency and solar projects and network of energy equipment partners with financial expertise from one of the world’s most sustainable banks.

“This is an end-to-end solution that includes Verdia helping businesses with designing an effective project, procuring high-quality equipment and assisting with ongoing asset management,” Westpac General Manager, Commercial Alastair Welsh said. “This is supported by access to tailored discounted finance from Westpac. Westpac and Verdia will work with customers to design, deliver and finance everything from single-site to large, multisite energy efficiency and distributed energy programs.”

The program is in keeping with Verdia’s mission to accelerate Australia’s transition to clean energy by addressing the barriers that prevent businesses from implementing energy efficiency and clean energy projects. As noted by Verdia CEO Paul Peters, these barriers may include a “lack of in-house resource to research and manage projects, difficulty in selecting the right supplier and equipment for their business and the significant upfront capital investment required for new or upgraded equipment”.

“Verdia directly addresses these issues, making it easy for the customer to get the right solution in place for their business,” said Peters. For example, the company’s advisory team provides independent energy efficiency and solar expertise, with end-to-end support for customers to identify, design, procure, finance and deliver the right solution for their business. Customers are offered a choice of accredited energy equipment suppliers, providing assurance of the quality of the equipment and service.

“The traditional electricity grid is evolving into a more flexible, distributed network,” said Peters. “Ultimately, this will enable Australia to reduce carbon emissions and meet our climate change commitments. Verdia’s mission is to support the transition to cleaner, more sustainable energy sources, and to make that change happen sooner.”

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