Driving the rapid growth of UK solar power
While solar power accounts for a very small portion of the electricity produced in the UK, in recent years, new installations have increased rapidly due to the falling price of photovoltaic panel technology, and the introduction of a Feed-in-Tariff regime in 2010.
In early 2016, NIBC was approached by a highly experienced local developer of renewable assets in the UK to finance the construction of three solar projects in Cambridgeshire. The projects benefit from the UK’s Renewable Obligation Certificate subsidy regime and the Feed-in-Tariff regime.
We provided construction financing for the three solar parks with a combined annual capacity of c. 15MW.
With our funding, the client was able to roll out the construction phase within an ambitious timeframe, with the sites becoming fully operational by March the same year.
Following their successful construction, the three solar sites are now generating sustainable energy for approximately 2,500 households each year.
As NIBC we actively finance projects focused on sustainable energy production. We are therefore proud to have delivered the financing within a short timeframe to realize this renewable energy project.- Jan Willem van Roggen, NIBC