RBS International has supported renewable energy fund Greencoat UK Wind by co-ordinating the increase and extension of its revolving credit facility to £600m, and transition to SONIA (the Sterling Overnight Index Average).
The facility, which will be used to support a strong pipeline of UK offshore and onshore wind farms, will be supported by RBS International and three additional lenders.
RBS International has taken a £150m hold, demonstrating NatWest Group’s pledge of £100bn climate and sustainable funding and financing by the end of 2025.
Greencoat UK Wind was the first renewable infrastructure fund to list on the LSE Main Market and is the only renewable infrastructure fund domiciled in the UK.
Its portfolio comprises 40 operating wind farms with a gross asset value of more than £3.5bn, which generate sufficient electricity to power 1.3 million homes and reduce carbon dioxide emissions by about 1.6 million tonnes per year.