Climate love

Rashid Kamau

1 w

Rewilding Britain

Climate love

Investment firm Low Carbon secures $391.25 million for solar projects


article view

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).
Advertisement · Scroll to continue
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.
Advertisement · Scroll to continue
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.

Do you agree?

147 more agrees trigger scaled up advertising

  • walter lungayi

    1 w

    That's a great move.....solar energy is a great idea.

    4
    • mercy nduta

      1 w

      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.

      3
      • dickson mutai

        1 w

        funds put to right use ...

        5
        • Daniel Waweru

          1 w

          This is encouraging

          6
          • Hilda Wangui

            1 w

            Awesome this is giving hopes to British citizens to have enough electricity power.

            11
            • Joseph Githinji

              1 w

              This is awesome

              11
              • zelda ninga

                1 w

                Hoping this will make the installments of the solar systems for its citizen easier and faster

                8
                • Ajema Lydiah

                  1 w

                  great

                  11
                  • Munene Mugambi

                    1 w

                    Such money can light up a lot of homes with clean energy

                    17
                  Welcome, let's solve the climate crisis together
                  Post youtube preview with preloading
                  youtube overlay

                  Write or agree to climate reviews to make businesses and world leaders act. It’s easy and it works.

                  Write a climate review

                  Voice your opinion on how businesses and organizations impact the climate.

                  Open for Climate Dialogue™

                  Certified accounts actively looking for your opinion on their climate impact.

                  125.5k trees planted

                  One tree is planted for every climate review written to an organization that is Open for Climate Dialogue™.

                  Download the app

                  We plant a tree for every new user.

                  AppleAndroid