London energy firm gets £47.6m funding for overseas solar plants

A London energy firm has been granted £47.6m in financing to help support its development of two solar plants.

Solarcentury, which has been selling renewable energy solutions for 21 years, received the funding from UK Export Finance (UKEF).

The financing will secure the company’s work on two solar plants in Spain, which will generate enough energy to power more than a quarter of a million homes each year with renewable energy.

Tony Crawte, chief financial officer of Solarcentury, commented: “UKEF’s support was critical to successfully securing and subsequently fulfilling these contracts.

“Its flexible approach to finance has been invaluable throughout the last few months, particularly as we work through the Coronavirus pandemic and I anticipate working with them in the future.”

Secretary of state for international trade, Liz Truss, said: “This has been another outstanding year for UK Export Finance, helping businesses in every part of the UK win export contracts.

“Supporting international trade will be crucial as the UK looks to recover from the impact of the COVID-19 pandemic.

“UK Export Finance is already playing a critical role at the centre of the government’s plan to power an export-led recovery and its offer is more important than ever for UK exporters.”

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