Know what you want? Try our 'Supplier Directory' 

SSE buys 20% stake in Geothermal International

Scottish and Southern Energy (SSE) has agreed to invest up to £ 15 million for a 20% stake in Geothermal International Ltd (GI).
SSE's investment will be made during the next six months and is the ninth purchase deal made by the firm since SSE's venture team was created a year ago.

GI, headquartered in Coventry, supplies ground source heating and cooling systems for commercial buildings. Established in 2000, the firm has installed over 1,300 ground source heat pump systems.

Brian Davidson, the founder and CEO of GI, said: 'We look forward to working with SSE's other renewable energy partners, as well as providing ESCO solutions for developers, house builders and local authorities that deploy ground source heat pumps on a large scale.'

SSE says it hopes to benefit from having a commercial foothold in geothermal energy and a significant stake in a business which is dominating a rapidly growing sector of the European heat market.

Ian Marchant, chief executive of SSE said: 'SSE is rapidly building a strong portfolio of clean energy businesses that cover almost every part of the renewable and alternative energy market in the UK'.

He added 'Geothermal energy has been an obvious missing piece in this portfolio and this deal fills the gap very effectively'.
11 April 2008

Comments

Already Registered?
Login
Not Yet Registered?
Register

HVR Awards 2025: DEADLINE EXTENDED TO JULY 25

The entry process for the HVR Awards 2025 has been extended to July 25. We wanted to give people some extra time to finalise and submit their entries, but don’t miss the opportunity to get your entry in before the new deadline....

  05-Mar-2025

EDGE PRO, the new high performance residential heat pump

Clivet has launched EDGE PRO the innovative air-to-water packaged heat pump from 4 to 16 kW, ideal solution for new buildings and renovations, thanks to the ALTODesign aesthetics, versatile and sustainable for heating, cooling and domestic hot water....

  26-Jun-2025

STOKVIS R600

CONDENSING ULTRA LOW NOx PREMIX COMMERCIAL BOILER
  10-Jan-2019
Heating & Ventilating Review is the number one magazine in the HVAR industry. Don’t miss out, subscribe today!
Subcribe to HVR

Diary

HVR Awards
BESA Industry Awards