CW Fletcher, a renowned Yorkshire manufacturer with a rich history dating back to its Sheffield cutlery roots during WWII, has recently taken a significant step towards environmental sustainability. The company has strategically installed 1,676 high-spec solar panels atop its factory roof near Sheffield, signaling a firm commitment to green ambitions and cost-saving initiatives.
Specializing in the production of premium engine components for aircraft, business jets, satellites, and nuclear projects on a global scale, CW Fletcher has a legacy deeply embedded in engineering excellence. Notably, the company played a pivotal role in the development of the Merlin engine, which powered iconic aircraft like the Spitfire and Lancaster.
The decision to embrace solar energy was primarily motivated by a desire to curb energy expenses. The installation of solar panels across the expansive 3,349 square meter facility in Wales Bar has already proven fruitful, generating 23% of the company’s energy consumption this year and resulting in substantial savings of £87,000. Projections indicate that by the conclusion of 2024, savings are expected to soar to £170,000, with a further increase to £200,000 by 2029.
Facilitating this sustainable investment was a £688,000 asset finance funding package secured through Lloyds Bank’s Clean Growth Financing Initiative (CGFI). This initiative, designed to provide discounted lending for eco-friendly purposes, empowered CW Fletcher with crucial financial backing for the solar panel project.
Rebecca Willis, the financial director at CW Fletcher, expressed enthusiasm about the positive impact of the solar panel installation on the company’s bottom line. She remarked, “The anticipated savings of nearly a quarter of a million pounds over the next five years through clean energy utilization represent a significant achievement for us, enabling reinvestment in our facilities. The funding support from Lloyds Bank has been instrumental in realizing this initiative, allowing us to fortify our business and ensure longevity for the benefit of future generations in and around Wales Bar.”
Lee McAllister, associate director at Lloyds Bank’s Asset Finance Division, commended CW Fletcher for its proactive approach towards sustainability and operational efficiency. He highlighted the growing importance of green initiatives in the manufacturing sector, emphasizing the need for businesses to adapt to evolving market dynamics and consumer demands.
CW Fletcher’s adoption of solar power not only underscores its commitment to environmental stewardship but also positions the company at the forefront of a shifting industrial landscape where sustainability and efficiency are paramount for long-term success.