First dedicated finance brokerage for renewable energy and energy efficiency projects in the UK, helping cash-strapped UK businesses reduce their energy burden.
Companies who are looking for funding for renewable energy and energy efficiency projects will, for the first time, have access to specialist finance through ReEnergise Finance. The new brokerage launches at a time when the UK is seriously lagging behind other European countries in terms of commercial energy efficiency. Saving energy and creating efficiencies are key concerns for Government and businesses; and this new service will help businesses to connect with the right source of finance for their specific energy project needs.
Finance packages are available from £75,000 right up to £5 million for projects involving Renewable technologies such as biomass, solar, wind or heat pumps in addition traditional technologies that improve energy efficiency. Businesses which invest in renewable energy could make average returns of over 10%.*
Adam Hewson, Director, ReEnergise Finance, comments: “The single biggest problem affecting the UK’s growing renewable energy and microgeneration sector is access to finance.
“In an environment where banks are restricted and reluctant to lend against what is perceived as new technology, there is increasingly a need for a specialist intermediary, in particular for commercial projects under the £10 million mark. In reality, finance is available in the UK for renewable energy; the trick is finding it and working with a partner that will get you the right deal. Government schemes are available but you have to have already invested in energy efficient equipment to qualify. We’re offering businesses the chance to do that, which we see as the final piece in the energy puzzle.”
“What is apparent is that different technologies require different forms of finance with different terms. For example, a 25-year solar project with access to the FiT, will have a completely different financing structure to a 10-year biomass project with access to the Renewable Heat Incentive (RHI). Adam Hewson, Director, ReEnergise FinanShigeki Komatsu, Director of the Solar Business Division at SANYO Panasonic Europe, a global leader in Solar PV technology and partner of ReEnergise Finance, recognises this issue and adds: “Access to finance is key in this market and we need companies like ReEnergise to help unlock the latent potential of microgeneration in the UK.”
ReEnergise Finance provides loans to UK based public and private sector companies. Finance packages are designed to suit different technologies and are available through unsecured asset finance, secured commercial loans and as individual project finance.
Adam continues: “What is apparent is that different technologies require different forms of finance with different terms. For example, a 25-year solar project with access to the FiT, will have a completely different financing structure to a 10-year biomass project with access to the Renewable Heat Incentive (RHI).
“We have expertise in technical solutions, in depth knowledge of installation and project management and we understand how to build a finance deal around those things. We’re targeting businesses that have been considering an energy efficiency solution but have been hampered by finding appropriate finance and independent advice.”
On the back of the founding team’s 45 years combined experience in the debt markets, ReEnergise Finance aims to offer a fresh approach to the market, making the process as simple and efficient as possible for customers and partner equipment providers.
ReEnergise Finance, which will become a Green Deal finance provider, also plans to launch a domestic finance offer later in 2012.