NatWest has confirmed it is committed to providing £10bn of funding to UK sustainable energy projects by 2020. This news comes following announcements that the bank has surpassed its 2015 three year commitment to lend £3bn to sustainable energy projects, by £500m.
During 2015 to 2017 the bank has supported around 1,500 transactions, with the majority of support provided to solar projects (41% of funding), followed by wind (25%), biomass (9%) and anaerobic digestion, smart meters and energy efficiency (2% each).
Richard Saint, the bank’s Executive Sponsor for Sustainable Energy said: “This is a huge achievement, demonstrating our strong commitment to the low carbon economy and the jobs, businesses and communities that rely on it. It also highlights the attractiveness of the UK for investment in the low carbon goods and services sector for British businesses.”