Two Blues Solar, True Green Capital form JV to deploy on-site solar in UK

Two Blues Solar Ltd. expects to be able to fund and deploy up to 300 on-site solar projects in the UK over the next five years through a new joint venture with US renewable-focused private equity firm True Green Capital Management LLC.

Two Blues Solar provides on-site renewable power to commercial and industrial businesses and landlords with no up-front costs. Instead, it sells energy to the building occupier under a power purchase agreement, according to a May 15 news release.

Under this business model, Two Blues Solar said UK businesses could save as much as £260 million in energy costs over 25 years.

"Prices are increasing across the board, and businesses have multiple priorities competing for their capital and time; many can't prioritize investment in on-site power generation. We aim to help them achieve that," Daniel Levene, co-founder of Two Blues Solar, said in the release.