Rewilding Britain
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Climate love
Rashid Kamau
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Investment firm Low Carbon secures $391.25 million for solar projects
British renewable energy investment firm Low Carbon has secured an additional 310 million pounds ($391.25 million) of financing for its solar projects in Britain and the Netherlands from several leading banks, the company said on Tuesday.
The financing will enable the company to double the amount of capacity it plans to build through its solar facility, adding 448 megawatts (MW) to take the total to almost 1 gigawatt (GW).
Together, the projects which are expected to start generating in the mid-2020s, will provide enough electricity to power around 350,000 homes, the company said.
“Deploying nearly 1 GW of solar PV capacity will play a significant role in helping us to deliver our strategic goal of creating 20 GW of new renewable energy capacity by 2030,” Low Carbon Founder and CEO Roy Bedlow said.
The company currently has an 8 GW pipeline of international projects and 1.3 GW of operational assets under management.
1 minute readMay 17, 202312:28 AM GMT+3Last Updated 13 min ago
Investment firm Low Carbon secures $391.25 million for solar projects
Reuters
Wads of British Pound Sterling banknotes are stacked in piles at the Money Service Austria company's headquarters in Vienna
Wads of British Pound Sterling banknotes are stacked in piles at the Money Service Austria company's headquarters in Vienna, Austria, November 16, 2017. REUTERS/Leonhard Foeger/File Photo
LONDON, May 16 (Reuters) - British renewable energy investment firm Low Carbon has secured an additional 310 million pounds ($391.25 million) of financing for its solar projects in Britain and the Netherlands from several leading banks, the company said on Tuesday.
The financing will enable the company to double the amount of capacity it plans to build through its solar facility, adding 448 megawatts (MW) to take the total to almost 1 gigawatt (GW).
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Together, the projects which are expected to start generating in the mid-2020s, will provide enough electricity to power around 350,000 homes, the company said.
“Deploying nearly 1 GW of solar PV capacity will play a significant role in helping us to deliver our strategic goal of creating 20 GW of new renewable energy capacity by 2030,” Low Carbon Founder and CEO Roy Bedlow said.
The company currently has an 8 GW pipeline of international projects and 1.3 GW of operational assets under management.
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The additional lending came from international banks, ABN AMRO, ING, the Commonwealth Bank of Australia, and Intesa Sanpaolo.
It comes on top of a 230 million pounds financing facility agreed last year with Natwest, Lloyds Bank and AIB.
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That's a great move.....solar energy is a great idea.
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As a renewable source of power, solar energy has an important role in reducing greenhouse gas emissions and mitigating climate change, which is critical to protecting humans, wildlife, and ecosystems.
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funds put to right use ...
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This is encouraging
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Awesome this is giving hopes to British citizens to have enough electricity power.
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This is awesome
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Hoping this will make the installments of the solar systems for its citizen easier and faster
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great
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Such money can light up a lot of homes with clean energy
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@munene_mugambi I a gree
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@munene_mugambi Absolutely