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Imperative acquisition means Gaelectric has a presence in four key renewable energy sectors
Irish renewable energy group Gaelectric has moved into the biomass market with the acquisition of Imperative Energy.
County Kildare and Manchester-based Imperative Energy has completed more than 70 biomass installations and has a further 10 projects under construction. Its customers include government departments in the UK and Ireland, many schools and universities, hospitals, and distilleries.
Brendan McGrath, Gaelectric Group chief executive, said: "We view this as an important strategic step for Gaelectric that provides us with diversification across renewable energy sectors and access to significant growth opportunities in a biomass market that is continuing to evolve.
“Just 2% of the 60 million TOE (tonnes of oil equivalent) UK heat market, with 28 million TOE in commercial and industrial buildings, is currently provided by biomass. The continuing focus on sustainability, energy security and costs, and the supportive policy environment towards biomass, particularly in the UK, assures us that the fundamentals for growth of the biomass sector are already in place.”
Gaelectric now has an established presence in four key renewable energy sectors – onshore and offshore wind, energy storage and biomass energy.
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