Renewables Infrastructure Secures GBP500 Million ESG-Linked Facility
Fri, 18th Dec 2020 09:49
(Alliance News) - Renewables Infrastructure Group Ltd on Friday announced that it has refinanced and expanded its revolving credit facility at lower rates to support investments in renewable energy projects.
The GBP500 million facility is available to the investment firm for a three-year term, and the interest will be charged in respect of the renewed facility is linked to the company s Environmental, Social and Governance performance.
Performance targets include an increase in the number of homes powered by clean energy from Renewables Infrastructure s portfolio, a rise in the number of community funds supported, and the maintenance of a low Lost Time Accident Frequency Rate.
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This is the third in a series of articles investigating growth sectors, developing technologies and niche themes that adventurous private investors can back in their Isas – and how they might do so. The previous one, on open-ended funds in the environmental sector, is here.
The UK s energy mix is in the process of transitioning from coal and gas towards renewables and has been for some time. During the first quarter of 2020, 47 per cent of the UK s electricity generation came from wind and solar.
When all sources of renewables are included, such as biomass and hydro, the forecast is for around 80 per cent of our power to come from renewables by 2040.