The firm has teamed up with consultant WSP and architect Woods Bagot to chase work in the growing market to help existing commercial buildings reach tougher carbon emission targets.

The new joint venture is called Brookfield Green. Industry experts expect other major contractors to follow suit as new build work dries up.

Work on site for Brookfield Green’s first project is expected shortly and the venture has been in detailed discussions with a number of major property owners.

One industry expert said: “The market has to change because new build volumes are so low.

“The government is committed to carbon reduction targets and that means revamping the current building stock.

“Contractors will have to follow the money and that will be in retrofitting existing buildings to reach the new targets.”