New Contract Award

RNS Number : 5328L

Mears Group PLC

02 August 2011

 



2 August 2011

Mears Group PLC

("Mears" or "the Group")

Mears wins £20 million Photovoltaic solar panel

installation contract in Peterborough

Mears is pleased to announce the award of a Photovoltaic ("PV") solar panel installation contract in Peterborough which it believes to be the largest Social Housing PV scheme in the UK. The contract award, won with Mears' partner British Gas, is with Cross Keys Homes in Peterborough and will see PV panels fitted to in excess of 3,500 homes.

The installation costs are being funded by British Gas as a part of a Feeding in Tariff ("FIT") scheme over a 25 year period.

Mears will be carrying out a significant proportion of the installations, as well as all associated works such as scaffolding and electrical components. This scheme will see the first PV fitted in September 2011, with all works completed by April 2012. The Group has valued its share of the contract to be in the region of £20 million.

Commenting, David Miles, Chief Executive, Mears Group, said:

"We see increasing opportunities in this area into 2012, particularly as the 'Green deal' and other energy efficiency measures come into play.  Cross Keys will provide us an important reference site to lead our drive into this emerging energy opportunity as we continue to successfully leverage our partnership with British Gas, which gives us access to both funding and expertise in this area."

ends.

About Mears

www.mearsgroup.co.uk

(tickers: MER.L MER.LN  MER.PL)

Mears is a leading social housing repairs and maintenance service provider to Local Authorities and Registered Social Landlords in the UK and commands a leading position in the UK Local Authorities' outsourced domiciliary care market, providing personal care services to people in their own homes.

Mears employs in excess of 12,000 people and provides maintenance and repairs services to in excess of 10% of the UK social housing stock. Mears also provides over 150,000 hours of domiciliary care to 20,000 service users each week.

Enquiries:
Mears Group PLC
David Miles, Chief Executive	Tel: [phone]
Andrew Smith, Finance Director	Tel: [phone]
Bob Holt, Chairman	Tel: [phone]
Joint Broker - Investec
Keith Anderson/Daniel Adams	Tel: [phone]
Joint Broker - Collins Stewart
Mark Dickenson/Ileana Antypas	Tel: [phone]
IR - Gable Communications	Tel: [phone]
John Bick/Justine James	Tel: [phone]

 

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