Low Carbon, a renewable energy investment and asset management company, has secured £230 million of financing from leading banks in the UK and Ireland to support the development of solar power projects.

NatWest, Lloyds Bank and AIB is providing the financing, which will enable the construction of large-scale renewable energy projects in the UK and the Netherlands.

The initial funding will be used to build 500MW of solar power capacity across 17 developments, followed by an additional £200 million of financing, taking the total solar capacity in construction to 1GW.

The projects will provide clean electricity to power more than 360,000 homes and avoid 308,000 tonnes of carbon dioxide equivalent annually.

Roy Bedlow, Founder and Chief Executive of Low Carbon said: “We are delighted that three of the UK and Ireland’s leading banks have demonstrated a major endorsement of our business and its ambitions for expansion. The next decade is crucial to slowing the pace of climate change and it is imperative that we rapidly deploy renewable energy at scale.

“The initial projects included in the finance facility will provide many in the UK and the Netherlands with clean, affordable energy in the years to come and will help Low Carbon reach our strategic goals of net zero and 20GW of new renewable energy capacity by 2030.”

Article source: https://www.energylivenews.com/2022/08/31/low-carbon-secures-230m-for-solar-projects-in-the-uk-and-netherlands/