Musselburgh-based solar energy company Gensource have been nominated as finalists for the ‘High Growth Business of the Year’ category of the latest Midlothian and East Lothian Chamber of Commerce (MELCC) Awards.
The nomination follows on from Gensource winning the ‘New Business of the Year’ award last year; Gensource are sponsoring that category this year. Last year, the judges cited Gensource’s ability to identify major business opportunities in a climate emergency and build a business dedicated to using innovative solutions to address its customers’ needs.
Speaking of the high-growth category nomination for this year, Gensource’s Commercial & Operations Director Robert Wilson said:
‘We are pleased to have been recognised as a high-growth local business in the Midlothian and East Lothian area. Our location, with its excellent availability of skilled employees, suppliers and transport links, has been key to driving our commercial growth.’
Between Q2 and Q4 in 2024, Gensource’s business revenue more than doubled. Full-time employees (FTEs) increased from 3 to 8.5 FTEs between Q4 in 2023 and Q4 in 2024, with employee growth already continuing into 2025. The business also has multiple sub-contracted partners, providing employment in other businesses. In the financial years 2023 to 2024, profitability in the business grew by 340%.
Gensource’s business development has been driven by delivering an increasing variety of sustainable energy projects in new market segments, this includes the new build sector, and an ever-increasing volume of commercial projects for main contractors as their specialist renewable energy contractors. Growth is also being driven by working directly with end clients, to secure repeat business and build partnerships to provide energy services beyond the installation of sustainable energy technologies.
Gensource are also diversifying into the clean heat sector and now offer turnkey services for air source heat pumps. Working with a diverse customer base across market segments and technologies underpins the business’s resilience to external shocks and sets the foundations for even more sustainable growth.
