The Kensa Group announces that it has partnered with Legal & General to strengthen its market-leading position and accelerate deployment of its ground source heat pumps across the UK. Legal & General’s 36% stake in the Kensa Group will advance Kensa Heat Pumps‘ research and development programme, expand Kensa Contracting‘s district heating shared ground loop array installations, and fund zero-cost heating infrastructure through Kensa Utilities. Legal & General invests its capital in clean energy assets, businesses and technologies which will help accelerate the UK’s progress to a low-cost, low-carbon economy. The partnership with Kensa complements Legal & General’s existing clean energy investment portfolio, which now includes low carbon heat, transport and power generation. The investment from Legal & General will enable Kensa to grow rapidly in a post global pandemic environment, and supports the partnership’s ambition to form part of the UK’s solution to reaching net zero carbon emissions by 2050. Heating and hot water for UK homes make up 25%1 of total energy use and 15%2 of our greenhouse gas emissions. By 2025, the current consultation on new building regulations will likely outlaw fossil fuel heating systems for new build homes, presenting a significant and immediate opportunity for an alternate low carbon heating solution. Retrofit represents a significant market opportunity, with around 23 million homes in Great Britain using mains gas (carbon intensive) as their heating fuel, two million homes electrically heated (high running costs) and the remaining two million using heating oil or other fossil fuel systems (carbon intensive and high running costs).
Kensa 17th April 2020 read more »