Severn Trent share price: £120m investment in renewable energy

Share this article!

Utility giant Severn Trent Plc (LON:SVT) continues its expansion in the renewable energy sector by purchasing Agrivert Holdings LTD for £120m.

The news has been welcomed by investors this morning as Severn Trent shares rally against an index struggling over currency issues and currently stands at 2,015.00p, up 1.64 per cent as of BST 12:41.

Acquisition will increase Severn Trent renewable energy output by almost a third

Agrivert, which generates energy using food waste from 5 food processing plants in the Midlands and London, will work alongside Severn Trent’s two other food waste facilities in Coleshill and Roundhill to increase Severn Trent’s renewable energy output by 106gwh per annum.

With an additional food processing site in Derby set to be complete by 2019, Severn Trent’s renewable energy investment is now set to reach £300mn by 2020.

Severn Trent on track to produce half of its current energy output with renewable sources

The investment is yet another step Severn Trent has made towards achieving the target of being more sustainable and renewable by 2020, with Chief Executive Liv Garfield stating: “Renewable energy is strategically important to Seven Trent and the UK as a whole as we work towards achieving our decarbonisation targets.” as reported in Proactive Investors.

As of 12:26 BST, Friday, 31 August, Severn Trent Plc share price is 2,389.50p.

Add Comment

Investing is speculative. When investing your capital is at risk. This site is not intended for use in jurisdictions in which the trading or investments described are prohibited and should only be used by such persons and in such ways as are legally permitted. Your investment may not qualify for investor protection in your country or state of residence, so please conduct your own due diligence. This website is free for you to use but we may receive commission from the companies we feature on this site. Click here for more information.