Manchester-headquartered motor retail firm, Lookers Group, has announced a £2 million asset finance deal to slash energy usage across its UK sites.
The company, which was founded in Manchester in 1908, is one of the largest motor retailers in the UK, representing 31 vehicle manufacturers across its 60 UK sites.
In a bespoke solution deal with Barclays Asset Finance, Lookers Group is set to invest in tailored combined heat and power (CHP) throughout its operations in addition to a stand-alone solar PV system at one of its sites in Northern Ireland.
Robin Gregson, finance director at Lookers Group, said: “Lookers is aware that our activities do have an impact on the environment. The group has made a commitment to reduce energy consumption and the installation of biomass heating and cooling plants throughout the group’s operations is one of a number of steps we are taking as a business.”
As a large company, Lookers Group has to comply with the Carbon Reduction Commitment Energy Efficiency (CRC) and Energy Saving Opportunities Scheme (ESOS), but it is also taking a number of other additional independent steps to reduce energy consumption.
These include the creation of an in-house energy management team, installing half hour and AMR electricity meters to improve energy monitoring, implementing major energy efficient re-lighting programmes, testing for compressed air leaks, and running traffic management initiatives for drivers.
Andrew Meadowcraft, relationship director at Barclay’s Manchester office, commented that Lookers’ latest investments will help it raise its corporate profile as well as make cost savings.
The Lookers Group is a valued and long-standing client of Barclays. It is the value of this relationship and their unique property portfolio which allowed us to extend our products to support this transaction”, he said.
“Modern consumers expect businesses to robustly demonstrate their environmental credentials. As a result of this installation, Lookers will be able to utilise sustainable resources whilst creating cost savings across the business.”