Ethical Power

What Ethical Power does

Ethical Power is a UK-headquartered, vertically integrated renewable energy company delivering utility-scale solar PV and battery energy storage system (BESS) projects from development through construction, grid connection, and long-term operations and maintenance. Founded in 2013 by Tom Kneen and headquartered in Exeter, the company describes itself as the UK's only independent vertically integrated energy infrastructure company. Its service portfolio spans site identification and planning, engineering design, full-wrap EPC delivery, NERS-accredited high-voltage grid connections up to 132kV, 24/7 SCADA-based asset monitoring through an SSAIB-certified control room, and long-term asset management including corporate PPA power supply.

The company's operations span five countries — the UK, Spain, Greece, Italy, and New Zealand — with an Athens-based engineering hub supporting global delivery. Technical differentiators include NERS Independent Connection Provider accreditation (a rare qualification allowing direct competition with DNOs), biodiversity net gain exceeding the 10% government mandate (achieving 78-82% on flagship projects), and specialized expertise in co-located solar and BESS configurations with both AC and DC coupling. Notable operational assets include the Berkeley BESS (50MW/58MWh, Solar and Storage Live 2024 Project of the Year), Chestnut Solar Farm (23MW), Fundici Solar Farm (55MW, Spain), and the RWE Brunel Cluster EPC contract covering 189MW across three projects.

The business model is B2B enterprise services with custom project-based pricing, multi-year contracts, and revenue streams spanning one-time EPC services, recurring O&M and asset management, and corporate PPA power supply. Customers are predominantly utilities, Independent Power Producers, and large corporations (RWE, Infinis, Conrad Energy, Lodestone Energy, Encavis AG, BNP Paribas, Meridian Energy, Ignis). Debt financing has totaled £27M across Thrive Renewables (2023) and Triple Point (2024), with the company now 50% owned by founder Tom Kneen and 50% by Hive Energy following a March 2025 equity-for-debt restructuring.

Name

Ethical Power

Legal name

Ethical Power Ltd

Website

https://ethical-power.com

Company type

Private

Founded year

2013

Operating status

Operating

Headcount range

101–250 employees

Short description

Ethical Power is a UK-headquartered, vertically integrated renewable energy company delivering utility-scale solar PV and battery energy storage system (BESS) projects end-to-end — from development and design through EPC construction, grid connection, and long-term asset management — for utilities, IPPs, and large corporations across the UK, Spain, Greece, Italy, and New Zealand.

Ownership category

akta.pro rank

Product category

Renewable Energy EPC Services

NAICS

Solar Electric Power Generation (221114), Electric Power Generation (22111), Electric Power Transmission, Control, and Distribution (22112)

SIC

Electric Services (4911), Electric, Gas & Sanitary Services (4900)

akta.pro primary industry

Solar Project Development & IPP (Utility-Scale & Rooftop) (EUAMABAA)

akta.pro secondary industries

Utility-Scale BESS Project Development & Ownership (IPP/Developer) (EUAFAAAA), BESS EPC, Integration & Commissioning (EUAFAAAB), Energy Storage & Microgrid Electrical Infrastructure (BESS, Controls) (IMAFAHAE), Project Finance & Capital Structuring (Debt/Tax Equity/Project Bonds) (EUAMAAAD)

Keywords

• Utility-scale solar PV
• Battery energy storage
• Renewable energy EPC
• High voltage grid connections
• Solar asset management

Headquarters

HQ city

Exeter

HQ country

United Kingdom

HQ region

Europe

Offices5 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Supply Chain, Operations, Infrastructure, Technology or R&D

Revenue model

1. EPC Services: Engineering, Procurement, and Construction services for utility-scale solar PV and BESS projects. Provides full-wrap or Balance of Plant services from initial design through construction and grid connection.
2. Operations & Maintenance: Ongoing O&M services for renewable energy assets including 24/7 monitoring, preventative maintenance, and performance optimization.
3. Asset Management: Long-term asset management services ensuring projects perform to highest standards, including monitoring, issue resolution, and performance reporting.
4. Development Services: Project development services including site identification, planning, design, grid applications, and ready-to-build handover.
5. Power Supply & PPAs: Supplying green power directly to businesses through Corporate Power Purchase Agreements.
6. High Voltage Connections: Turnkey high voltage grid connection services including design, civil works, construction, and commissioning up to 132kV.

Pricing tiers

Go-to-market motion3 records

Distribution channels4 records

Marketing channels8 records

Core offering

Ethical Power is a vertically integrated renewable energy company delivering utility-scale solar PV and Battery Energy Storage System (BESS) projects from greenfield development through to construction, grid connection, and long-term asset management. Its services span Development Services, Construction Management, Operations & Maintenance, Asset Management, Power Supply Agreements, and High Voltage Grid Connections up to 132kV.

Product overview

Ethical Power is a vertically integrated renewable energy company offering end-to-end capabilities across the entire project lifecycle for utility-scale solar PV, battery energy storage systems (BESS), and green hydrogen. The company's core service portfolio spans development services, construction management, operations and maintenance, high-voltage grid connections, and power supply through corporate PPAs. Supporting services include CCTV and Performance Monitoring delivered via a 24/7 Control Room, Asset Management, and Ethical Capital & Funds for investment solutions. The company operates across multiple technologies including utility-scale solar PV, brownfield solar, BESS, and green hydrogen, with a global presence spanning the UK, Spain, Greece, Italy, and New Zealand. As the UK's only independent vertically integrated energy infrastructure company, it delivers projects from concept through to ready-to-build status, providing full-wrap EPC services alongside ICP grid connection capabilities up to 132kV.

Differentiator

Problem solved

Functional benefit

Products and services

• Utility-scale Solar PV
• Battery Energy Storage Systems (BESS)
• Brownfield Solar
• Green Hydrogen
• Development Services
• Construction Management
• Operations and Maintenance (O&M)
• Asset Management
• Power Supply and PPAs
• High Voltage Grid Connections
• 24/7 CCTV and Performance Monitoring
• Ethical Capital and Funds

Quantifiable outcome

• 81.88% Biodiversity Net Gain achieved at Chestnut Solar Farm
• +5 more outcomes

Named customers14 records

Segments5 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Nine partnerships are on record, tiered minor and core.

• Varco EnergyminorStrategic or Co-development Partner · 16 July 2024Ethical Power partnered with Varco Energy for the Sambar Power storage project. Varco Energy also partnered with Ethical Power Connections for development of two 57MW battery assets.
• KeaX LimitedcoreStrategic or Co-development Partner · 1 June 2024Partnership with KeaX Limited (stemming from Kea Energy) for development of 65MW Buckleys Road Solar and BESS project in New Zealand. KeaX brings local knowledge and networks expertise, while Ethical Power contributes international solar and BESS expertise. The project received planning consent from Selwyn District Council.
• Lodestone EnergycoreStrategic or Co-development Partner · 22 May 2024Ethical Power's performance monitoring team signed contract with Lodestone Energy to remotely monitor Kaitaia and Edgecumbe solar farms (33MW each) in New Zealand, with plans to expand to five solar farms total. Ethical Power provides 24/7 SCADA monitoring and performance analysis.
• KorkiaminorStrategic or Co-development Partner · 17 January 2024Ethical Power to build two new solar projects for Korkia in Spain, expanding international operations and partnership portfolio.
• New EnergyminorStrategic or Co-development Partner · 9 October 2023Ethical Power New Zealand formed alliance with New Energy to support renewable energy development in New Zealand market.
• ENGIEminorChannel Partner/ Reseller/ Distributor · 28 March 2023Ethical Power and partners sold a 50MW BESS project in Scotland to ENGIE, demonstrating project exit capability and partnership for project delivery to major energy companies.
• HES Aotearoa (HESA)coreStrategic or Co-development PartnerJoint venture between Ethical Power, Hive Energy, and Solar South-West launched in 2021 to develop utility-scale solar PV projects in New Zealand. The partnership developed 9 solar parks sold to a leading utility partner in 2023.
• Chint SolarminorChannel Partner/ Reseller/ DistributorChint Solar acquired Burcot solar farm from the Hive Energy and Ethical Power renewables development partnership. TLT law firm advised Chint Solar on the acquisition of the Oxfordshire site comprising nearly 80,000 solar modules with 50MW capacity.
• Ecotricity, Octopus Energy, Oxford PV, Tokamak EnergyminorOthersListed among UK companies leading the way on renewable energy initiatives, contributing to the country's green transition alongside Ethical Power.

Scale indicators18 records

Recent moves11 records

Expansion highlights6 records

Direct peers

• Lightsource bp: UK's largest utility-scale solar developer and operator with global expansion. Directly comparable on solar PV development, EPC delivery and asset management across UK, Europe and international markets; benefits from bp balance sheet versus Ethical Power's independent model.
• Solarcentury (Statkraft): UK utility-scale solar developer acquired by Statkraft in 2020. Closely comparable on UK solar PV development and EPC execution; larger Nordic parent provides financing scale Ethical Power currently lacks.
• Fluence Energy: Global pure-play BESS integrator offering design, supply and integration services for utility-scale storage. Directly comparable to Ethical Power's BESS EPC, integration and 24/7 monitoring capabilities; public market-listed and larger scale.
• Conrad Energy: UK flexible generation and battery storage developer/operator. Comparable as a UK BESS developer that also contracts Ethical Power as EPC, providing market overlap on BESS project pipeline and asset ownership in UK.

Broad incumbents

• Wärtsilä Energy Storage: Global energy storage and grid solutions provider with utility-scale BESS delivery. Comparable on BESS integration and grid services, though Wärtsilä is a much larger diversified marine and energy player.
• RWE: One of Europe's largest renewable IPPs and Ethical Power's largest disclosed customer (Brunel Cluster). Comparable as a UK/EU solar and BESS developer, but operates at materially greater scale with in-house EPC capabilities.
• EDF Renewables: Subsidiary of EDF developing utility-scale renewables including solar and BESS in UK, France and internationally. Comparable on solar and storage development plus EPC; significantly larger balance sheet and regulated parent support.
• Encavis AG: German IPP operating solar and wind across Europe, and Ethical Power's customer in Spain (Fundici Solar Farm). Comparable as a European solar IPP leveraging third-party EPC, though Encavis operates a much larger owned-asset portfolio post-BayWa integration.

Others

• Hive Energy: 50% owner of Ethical Power Group and co-developer via HES Aotearoa JV in New Zealand. Comparable as a UK-based renewable developer operating across 24+ countries, with overlapping solar PV development pipeline and shared equity exposure.
• Copenhagen Infrastructure Partners (CIP): Global renewable energy infrastructure fund manager with significant UK and EU solar/BESS exposure. Comparable as a capital provider/partner in utility-scale renewable development; an obvious strategic counterparty or competitor for Ethical Power's Ethical Capital & Funds vehicle.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/ethical-power-connections-ltd
• Xx.com/ethicalpower
• Facebookfacebook.com/EthicalPowerLtd

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles23 records

Subsidiaries7 records

Funding overview

Funding rounds2 records

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Ethical Power