£18m Peabody solar contract cut short
Published: 25 November, 2011
LONDON: Housing group Peabody is to cut its solar panel installation contract with Breyer. The move follows the government's decision to slash feed-in tariffs on solar installations made after December 12.
Peabody awarded the £18.5m contract to Breyer in July to install solar panels on housing across 25 London boroughs.
A Breyer spokesman said: "the contract will now be cut short by mutual consent" from December 12 because it is no longer economically viable following the subsidy cuts.
The contract involved installation of a maximum of six-megawatt peak of solar panels. The original 39-week contract was due to be completed by March 2012.