A few weeks back we posted how we can offer your business a Power Purchase Agreement, where we install solar PV for free and sell the electricity to you at a discounted price. Helping your business save money on your energy bills without you having to spend any capital. We, however, know its is more financially beneficial to own your system, and often more appealing. If your company agrees but need a helping hand then Barclays may soon have a viable solution for you. We take a look at Barclays’ plans.
Barclay’s is set to launch a self-proclaimed “pioneering” group of green corporate banking products. Included in this set of products are loans, deposits, asset finance and innovation finance designed specifically to help fund sustainability projects in the UK.
For larger clients who require more than £3 million in funding Barclay’s is offering a Green Loan. They can be used to fun eligible green projects, including energy efficiency projects, renewables, green transport and other sustainability initiatives.
Green Asset Finance
Green Asset Finance will be available for clients who need more flexibility in their financing of green initiatives, while SMEs will be able to take advantage of an innovation finance product backed by the European Investment Fund.
What do Barclays have to say?
Rhian-Marl Thomas, the chair of Barclays’ Green Banking Council, has said that addressing environmental challenges was a compelling economic opportunity. He explains that he is excited to build on their previous expertise of being a successful lead arranger, investor and issuer, by “launching new, innovative green products to help meet the booming demand for green finance from a broader cross-section of our clients.” Adding, “We’re excited to be at the forefront of something so game-changing.”
Karl Nolson, head of Barclays’ global lending group, has that “for too long, green projects have been viewed as an added extra, but what we’re increasingly hearing from our clients is a shift in mindset, with sustainability becoming more central to their overall investment strategy. We share that view at Barclays and know that unless sustainability is at the heart of how companies conduct their operations, they will fall behind.”
So watch this space!