The bank launched solar panels

Will the UK infrastructure bank fund subsidy-free solar power plants?

Image: NextEnergy Capital. Solar investor and asset manager NextEnergy Capital Group (NEC) has secured backing from the UK Infrastructure Bank for a new fund that aims to raise £500 million (US$663 million) to invest in subsidy-free solar power plants in the UK.

Are solar panels a good investment?

Solar panels can improve EPC ratings; homes with highest EPC ratings can be worth up to £40,000 more than less energy efficient homes. Energy bill savings with solar panels can save between £500 and £700 a year. Excess energy can be stored in batteries, or sold back to the National Grid, earning further savings.

Could a new £500m fund double subsidy-free solar power in the UK?

London, December 1st, 2021 – The UK Infrastructure Bank has made its first private sector transaction, which will help catalyse a new £500m fund with NextEnergy Capital that could double the amount of subsidy-free solar power in the UK.

Can HSBC Finance Ovo Energy?

Ovo Energy customers will be able to borrow money from HSBC to pay for solar panels and batteries under a scheme designed to boost take-up of low-emission home upgrades. The energy supplier said the tie-up means its four million customers will not need an account with the bank to access financing to install green energy devices.

What is the UK Infrastructure Bank?

The UK Infrastructure Bank is providing financing to the initial seed assets of the fund comprising two major subsidy-free solar farms in the UK, and plans to invest up to £250m, half of the fund’s total target fund size, on a match-funding basis with the private sector.

Who is NextEnergy Solar Fund?

NextEnergy Solar Fund (“NESF”) is a solar infrastructure investment company focused on the UK and other OECD countries, that is listed on the premium segment of the London Stock Exchange. It currently owns 895MW spread among 99 individual assets in the UK and Italy, comprising a gross asset value of £1,087m.