Aggreko to Shift Towards Solar and Battery Power

In response to customer pressure to cut carbon emissions, generator supplier Aggreko has outlined plans to shift towards solar and battery power.

The company is a world leader in supplying temporary power to major sporting events and developing countries in the form of diesel generators.

Chris Weston, the chief executive, is looking to shift the focus of the company away from the diesel generators. Instead, the energy firm will use hybrid technology involving solar or wind power, and use battery units and gas generators as backup to handle the lulls in renewable energy supply.

On Tuesday the company’s finances for 2019 were published, showing pre-tax profits rising by 9% to £199m. However, overall revenue fell by 8%.

When the peak of activity around the 2018 Winter Olympic Games is accounted for, the figures look slightly better with pre-tax profits up 13% and revenue sliding just 1% to £1.6bn.

Following the publishing of the financial results, the company’s share price surged by 5% on the London Stock Exchange.

Most of the equipment has already arrived in Japan in preparation for the Olympic Games, with Weston saying that the project is running on schedule. However, the spread of the Covid-19 virus has led to doubts about whether the Games will even go ahead as planned.

When speaking on the company’s plans over the next five to ten years, Weston told BBC Scotland: "We're going to see a transition from fossil fuel to low-carbon forms of generation. We can play a major role in helping our customers through that process.

"This is a huge opportunity for Aggreko. It plays to our strengths. There are few competitors out there with this ability to integrate the various methods of generation."

Weston also said there was the possibility of the number of units being assembled at the Dumbarton plant increasing if the current ‘pipeline’ of orders were to build up.