news
Please send us news about clean-technology companies, trends, and industry events. All materials are subject to editorial review. E-mail us at editor@cleanedge.com.
indexes
Clean Edge Stock Indexes: Tracking the Performance of U.S.-Traded Clean-Energy and Global Wind and Smart Grid Infrastructure Companies.
Subscribe to Clean Edge RSS ![[icon: Print]](../images/iconPrint.gif){kind=small}
Print
HSBC to Invest GBP100 Million in Renewables
March 24, 2008Source: Clean Edge News
The Carbon Trust and HSBC recently announced a landmark deal which
will see HSBC Environmental Infrastructure Fund making a substantial
investment in Partnerships for Renewables Limited (PfR), a venture
created by Carbon Trust Enterprises to develop renewable energy
projects on public sector land. HSBC Environmental Infrastructure
Fund will commit up to GBP18 million to acquire 49% of PfR and
provide development funding, as well as make a GBP30 million
revolving construction capital facility available to fund an
estimated GBP100 million of equity required to build out renewable
energy projects. This will be HSBC Environmental Infrastructure
Fund's first investment.
Partnerships for Renewables aims to develop a 500MW portfolio of
renewables projects on public sector land across the UK during the
next five years. This portfolio of projects would generate enough
electricity to power the equivalent of some 230,000 homes. It is
already talking to more than one hundred public sector
organisations, including Oxford City Council and Reading University,
with the primary aim of delivering 2-15 MW onshore wind projects.