Swangrove Energy Attains Ofgem Registered Investor Status

Today Swangrove Energy became one of the first registered investors with Ofgem. This important milestone allows Swangrove Energy to commence the sale of Heat pumps through the Assignment of Rights (AoR).

As a registered investor, Swangrove Energy can be assigned the rights to the Renewable Heat Incentive (RHI) in exchange for paying for a substantial portion of the upfront capital costs.

Assignment of rights passed through Parliament

The government has passed a bill called the Assignment of Rights (AoR). This new bill will allow investors to be assigned the rights to the Renewable Heat Incentive (RHI) paid by the government in exchange for paying much of the upfront cost of installing a renewable heating system.

It is hoped that this new bill will make renewable heating more affordable particularly for those who are thought to experience fuel poverty. This will increase the accessibility to renewable heating and move us to a low carbon future.

Formation of Swangrove Energy

Swangrove Energy was founded in May 2018 in preparation for the introduction of the assignments of rights bill coming into force on the 27th June 2018. The idea is to overcome the high upfront capital cost of installing a renewable heating system without having to take out a loan from your bank. 

Through Forfeiting your RHI subsidy Swangrove Energy will install your heat pump at a reduced cost or in exchange for a monthly service fee.