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Together Energy has confirmed the £18 million investment from Warrington Borough Council, which includes a 50 per cent stake in the business.
Earlier this year the council announced plans to become the first local authority in the UK to generate its own renewable electricity following investment in two new solar farms in York and Hull.
As a result of the deal a new board of directors will be created for Together Energy alongside new jobs in Clydebank and an immediate 30 new jobs in the Cheshire town.
Paul Richards, founder and chief executive of Together Energy, said: “The team at Warrington Borough Council is both visionary and ambitious in its approach to sustainable energy and helping to futureproof community services through its carefully planned investments.
“This vision is shared by all of us within Together Energy where our approach to our values and staff has been significantly unique within the industry and we are extremely proud of what we have already achieved in just three years in business.
“Our combined strength will take us to the next level in our growth and deliver our ambitious plans to change the traditional energy model.”
Warrington Borough Council leader councillor Russ Bowden said: “This is an investment that we’ve given careful consideration to over many months, but I’m pleased we’ve been able to agree a deal which will bring real benefits to the people of Warrington.
“It’s a good fit between a council which strives to put its residents at the heart of everything it does, and a company committed to helping our town prosper.
“Together Energy is a real living wage employer and is a champion of local community issues, offering employment and support to people who are out of work or without formal qualifications.
“Our investment will mean that we can genuinely tackle fuel poverty in the borough, provide employment opportunities and ensure we as a council continue to lead the charge against the climate emergency we all face.”
A number of municipal-owned energy suppliers already exist within the sector, with Nottingham being the first when it established Robin Hood Energy in 2013.
Bristol Energy is another example while white label agreements have been struck with Peterborough and East Cheshire local authorities.
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