Turquoise International fund invests in renewable power technologies

Three U.K. companies received $2.8 million from the Turquoise International fund to develop solar farms and other energy efficiency technologies. Three U.K. companies received $2.8 million from the Turquoise International fund to develop solar farms and other energy efficiency technologies, Bloomberg reported. About $1.2 million from the Low Carbon Innovation Fund will help Push Energy Ltd. to develop a large-scale land solar project. The rest will go to Amiho Ltd. and Green Energy Options Ltd. to produce energy efficiency technologies.

The U.K. is currently promoting energy efficiency through the Green Deal program to encourage homeowners and businesses to implement improvements that curb energy waste, such as installing solar panels or heat pumps for renewable power generation, according to the U.K.'s government website.

The U.K.'s Department of Energy and Climate Change recently announced over 495,000 homes in the nation have solar power, Solar Power Portal reported. For the week ending Dec. 15, the grid saw 10.88 megawatts of additional capacity.

"Half a million homes have been achieved in three years," said Leonie Greene, head of external affairs at the Solar Trade Association, according to Solar Power Portal. "We want to achieve the next half a million homes in less than two years so that we can hit the big million in 2015."

More information on solar PV in the U.K. can be found on PennEnergy's research area.

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