Renewco Power has been launched by a team of energy sector entrepreneurs to speed up the energy transition, mitigate climate change and address energy poverty by providing consumers with affordable electricity.
The company has secured £24 million ($32.7 million) in funding from SSE to develop more than 4GW of renewable energy capacity within five years.
The projects are expected to power up to 2 million consumers or produce enough energy equivalent to power Paris, which has 1.1 million customers, Madrid with 1.2 million consumers, and Manchester, which also has 1.2 million subscribers, according to a statement. Today Renewco Power has 1GW of early-stage projects in the pipeline.
