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24 May 2011 12:05:05

NatWest and RBS launch renewables fund

NatWest and RBS launch renewables fund
NatWest and RBS are to launch a £50 million fund to support renewable energy installations from the agriculture sector and small businesses.

The two banks are to make the cash available which will allow firms to pay the upfront cost of renewables projects, as well as putting business managers working on accounts through a renewable energy finance course.

Ian Burrow, head of agriculture and renewable energy at RBS, said: "We have nearly 200 relationship managers trained in covering the technical, legal and financial considerations specific to renewable energy."

Research conducted by the banks found 33 percent of agricultural businesses would be interested in deploying renewable energy to cut their energy bills and carbon footprint, however more than half said they would require financial backing.

Siemens and the Carbon Trust also recently launched a £550 million fund for firms looking to invest in cost-effective, energy-efficient equipment.

The intention is for the financing, which will be made available over the next three years, to "pay for itself" through savings in energy bills, resulting in no cost to the business.  ADNFCR-1235-ID-800554446-ADNFCR

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