The investment sum involved is not being disclosed but Two Blues Solar will have the potential to deploy up to £100m.

The joint venture agreement will provide Two Blues Solar with investment to deploy up to 300 on-site solar projects to energy-intensive businesses over the next five years.

With no up-front costs to customers, Two Blues Solar estimates it could generate savings of up to £260m for UK businesses over the next 25 years.

SMEs are being targeted as they usually lack the power purchasing agreements (PPA) larger businesses can access.

•   Hilltop launches real estate funding and management platform
•   Clarion announces new Sustainable Housing Finance Framework
•   Platform Housing Group issues £250m sustainability bond

Two Blues Solar is aiming at the former which it labels the ‘missed middle’, installing solar equipment with no upfront cost and then selling power back to the business at a discount of up to 60%.

“It’s easy to suggest that solar should be part of every business’ strategy to combat long-term energy price increases and meet industry net zero targets,” said Daniel Levene, co-founder of Two Blues Solar.

“But that statement fails to consider the reality of the situation for many energy-intensive businesses. Prices are increasing across the board, and businesses have multiple priorities competing for their capital and time; many can’t prioritise investment in on-site power generation. We aim to help them achieve that.”