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Green Deal Financing Company founded
New consortium of leading businesses founded to provide financing for the Green Deal.
02 October 2011
A new consortium of leading businesses has joined together to start a not-for-profit finance company to provide loans for the Government’s flagship energy efficiency scheme. Reported in the Guardian, the group which includes banks, energy suppliers and businesses from the building and construction industry will provide low cost finance which the Government hopes will see 14 million homes refitted with energy efficiency improvements by 2020, under the Green Deal scheme. Under the scheme, households will have access to low cost loans to make energy efficiency improvements to their homes, with loan repayments financed through savings on energy bills. Paul Davies, a senior partner at PwC who is responsible for coordinating the founding of the Green Deal Financing Company said, "The new company would put together as many loans as possible and very quickly give access to the capital markets." Speaking about the new consortium Davies said that whilst the group contained rival firms they have an interest in founding the Green Deal Market "They will collaborate first, then compete." The consortium members are British Gas, Carillion, Clifford Chance, E.ON, EDF Energy, Goldman Sachs, HSBC, Insta Group, Kingfisher, Linklaters, Lloyds Bank Corporate Markets, Mark Group, npower, PwC, RBC Capital Markets and SSE.
Find out more
A new consortium of leading businesses has joined together to start a not-for-profit finance company to provide loans for the Government’s flagship energy efficiency scheme. Reported in the Guardian, the group which includes banks, energy suppliers and businesses from the building and construction industry will provide low cost finance which the Government hopes will see 14 million homes refitted with energy efficiency improvements by 2020, under the Green Deal scheme. Under the scheme, households will have access to low cost loans to make energy efficiency improvements to their homes, with loan repayments financed through savings on energy bills. Paul Davies, a senior partner at PwC who is responsible for coordinating the founding of the Green Deal Financing Company said, "The new company would put together as many loans as possible and very quickly give access to the capital markets." Speaking about the new consortium Davies said that whilst the group contained rival firms they have an interest in founding the Green Deal Market "They will collaborate first, then compete." The consortium members are British Gas, Carillion, Clifford Chance, E.ON, EDF Energy, Goldman Sachs, HSBC, Insta Group, Kingfisher, Linklaters, Lloyds Bank Corporate Markets, Mark Group, npower, PwC, RBC Capital Markets and SSE.
Find out more
