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- Electricity provider, Locality Planning Energy (LPE) secured 870 new customers during May, after reporting strong customer uptake in April
- Consequently, the company expects to exceed its 30,000-new-customer target, before the end of the financial year
- In related news, Locality Planning Energy has formed a partnership with Allume Energy, a Melbourne-based green energy company
- Through the partnership, the two companies will collaborate on a solar-in-strata system
- The system allows high-rise building to collectively generate solar power through a shared roof, which can then be distributed between the building’s individual tenants
- Locality Planning Energy is currently trading flat at 33 cents per share
Electricity provider, Locality Planning Energy (LPE) secured 870 new customers during May, after reporting similarly strong customer uptake in April.
Since May 31 2019, the company has increased its customer base by more than 47 per cent.
Due the increased customer numbers, the company expects to exceed its 30,000-new-customer target, before the end of the financial year.
Furthermore, LPE has used its strong recent performance to repay $2.2 million in debt to a credit facility with Blackrock. After the repayment finalises, the company will have $15 million in remaining debt.
In related news, Locality Planning Energy has formed a partnership with Allume Energy, a Melbourne-based green energy company. Through the partnership the two companies will collaborate on Locality Planning’s solar-in-strata system.
The system allows high-rise building to collectively generate solar power through a shared roof, which can then be distributed between the building’s individual tenants.
Locality Planning’s CEO, Damien Glanville commented on the collaboration with Allume Energy.
“This is the first time strata communities have obtained access to a shared solar solution with a single rooftop installation that provides fair access to savings generated. Solar-in-strata allows high density communities to implement sustainable energy solutions, as well as deliver material savings on electricity bills with no upfront capital outlay.
“We anticipate that the product will be well received across our established network of strata customers, where LPE has an existing reputation as a reliable long-term partner in the deployment of strata electricity infrastructure,” he said.
Locality Planning Energy trading flat at 33 cents per share at 10:11 am AEST.
