With 57 clean energy loans, the Dutch bank with branches in the UK, Belgium, Spain and Germany finished ahead of Banco Santander in second, and Natixis in third. Total lending has reached $323 million across Europe, positioning Triodos Bank as the leading lender for small to medium sized renewable energy projects seeking financing greater than £2 million.
“The Clean Energy Pipeline investment report reflects a significant year for Triodos Bank where we have expanded our breadth of the clean energy market, and we are looking to grow our portfolio of lending to medium sized organisations seeking finance and have expanded our team to meet the demands of a growing sector” said Philip Bazin, Environment Team Leader at Triodos Bank UK.
Mr Bazin added that 2016 was a fantastic year for community renewable lending. As the sector, funding and regulation has changed in the past year, the bank has adapted its service model to be more innovative in meeting the unique needs of its clients.
Highlights for the expanding UK team included funding its largest ground mounted solar project to date for Danish investor Nordic Solar and financing its first ground source heat pump installations. The bank also arranged lending facilities totalling more than £19 million to community renewable projects. This takes the bank’s lending commitments to the community renewables sector to 11 different projects, making it one of its largest lending areas in the UK in the past three years.
Among the banks’ lending projects was the debt financing of the 4.2 MWp community solar farm at Braydon Manor near Swindon. The project launched by Wiltshire Wildlife Community Energy, and initially developed by Public Power Solutions with the help of Mongoose Energy was the UK’s first split community-commercial solar farm.
With regard to this project, the bank financed a community interest company as well as a shared grid connection.
The year’s highlight’s also included a number of high-impact community projects for Bristol Energy Cooperative, Galson Trust, Berwickshire Community Renewables LLP and others. With the help of Triodos Corporate Finance, Chelwood Energy Limited in Somerset managed to raise £2.75 million of equity.
Triodos Bank entered the renewables market in the mid-1980’s with a focus on wind energy and has since broadened its focus across the wider renewable and environmental sectors. As their sector experience and commitment has expanded, the bank has invested in growing the UK renewables sector team to meet the growing demand.
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