Scots solar power firm surges on US expansion

By PERRY GOURLEY
Published on 24/11/2012 00:00

A SOLAR power company which recently expanded into the US has seen its turnover rise more than tenfold over the past year.

Renewable Resources, which is based in New Lanark and employs some 60 staff, saw sales reach £21 million this year on the back of dramatic growth in demand for systems in homes and businesses.

Earlier this year it opened an office in Stamford, near New York, and sales in the US have now exceeded £600,000.

In the second quarter of 2012, Renewable Resources was responsible for a third of all commercial rooftop solar installations in the UK.

In addition to its headquarters in New Lanark it has a subsidiary base in Milton Keynes and operates through a network of hundreds of contractors installing solar panels.

Sales are expected to exceed £25m next year. The company, which was founded in 2008, is chaired by former John Menzies and Early Learning Centre executive Dermot Jenkinson.