UK-based solar energy company, Solarcentury, has secured new financing to build two of the largest solar plants in Spain.
UK Export Finance (UKEF), the UK’s export credit agency, has guaranteed £47.6 million worth of financing for Solarcentury, in a boost to UK solar exports.
Together, the developments will generate enough energy to power more than a quarter of a million homes each year with renewable energy.
The new banking facilities comprise a £24.7 million trade loan facility from NatWest and a £22.9 million guarantees line from HSBC UK, with both sources of funding supported by UK Export Finance. UKEF’s support will allow Solarcentury to access the working capital and bond support needed to fulfil the contracts.
THE UK’s International Trade Secretary Liz Truss said: “British companies are taking the lead in developing solutions that tackle climate change and provide clean energy to thousands.