March 17 (SeeNews) – UK water and wastewater services firm Severn Trent Plc (LON:SVT) announced today GBP 190 million (USD 282m/EUR 267m) in planned renewable energy investments for the next five years.
The company will focus mainly on anaerobic digestion and solar power projects.
Severn Trent said at its capital markets day that its goal is to boost the share of self-generated green energy to 50% of Severn Trent Water’s gross energy consumption by the end of the decade. At present it stand at around 28%.
For several years now, the company has been involved in renewable energy generation, including wind and biogas projects at home. It did not provide details of its green energy investment plan for the next couple of years, but noted that these will ensure a long-term hedge against volatile market prices.
The company pointed out that Severn Trent Water is committed to its largest ever five-year investment programme, which will involve GBP 3.3 billion in capital investments.