Smartestenergy reports major increase in power capacity

In the fiscal year ending 31 March, Smartestenergy will have bought more than 5TWh of power, representing an increase of more than 50 per cent on the previous year.

According to Smartestenergy, much of this growth has come from new renewables projects, many of which were put on hold during the recession.

This year, however, a more stable finance market and new incentives for generators, such as the Feed in Tariff, has led to a rapid increase in the number of independent projects coming on stream over the past year.

The increase has further strengthened Smartestenergy’s position in the market, with a total portfolio capacity equivalent to more than a traditional coal or nuclear-fired power station and enough power to supply a million homes.