The announcement of a new agreement with NatWest to provide £40 million of project funding is set to accelerate the UK’s journey towards Net Zero. The new model will finance energy transition projects for eEnergy’s public sector customers – from schools and hospitals to council buildings across the UK.

The ability to finance public sector projects and borrowing at competitive interest rates will provide countless opportunities for organisations to switch to energy efficient lighting, reduce energy waste and install solar panels to both decrease carbon emissions and lower energy costs.

Large-scale sustainability projects – overhauling lighting to fit energy-efficient LEDs or reducing reliance on volatile markets through solar on-site generation – are often perceived as daunting and costly. Further to this, organisations and bodies across the public sector have had to rely on insufficient support to start and progress their Net Zero journeys. A shift to a more pragmatic approach to reach Net Zero by 2050 is therefore essential.

Education and healthcare institutions are the country’s most crucial services, and they particularly struggle with huge energy bills, emissions’ targets and energy waste. This new financing solution with NatWest will enable eEnergy to facilitate larger-scale energy efficiency projects for the public sector and make Net Zero possible, despite shrinking budgets.

The agreement with NatWest has been designed exclusively for the funding of public sector energy transition projects across the full range of eEnergy products. This will open up new opportunities across the three key pillars of eEnergy’s offering: Reduction, Generation and Charging.

• Reduction: Overcome the challenges associated with identifying energy reduction opportunities, as well as the design and installation of LED lighting and controls. The switch to LED lighting can result in up to 70% reduction in costs and 30% reduction in energy bills.
• Generation: Designing and installing onsite solar systems to cut energy costs by up to 20%, while facilitating decreased carbon emissions.
• Charging: Comprehensive EV charging solutions that enable organisations to embrace fleet electrification or simply provide EV charging facilities for staff, reducing scope three carbon emissions.

 Being backed by NatWest, one of the UK’s most trusted financial institutions, eEnergy is now able to expand the scope of opportunity – extending the model of zero upfront capital further than ever before.

The ability to offer eEnergy’s services across multiple sites now enables support for schools, hospitals and councils to build a more sustainable future.

Comments from Leadership

Harvey Sinclair, eEnergy CEO, comments: “We are extremely pleased to announce this £40m Facility with NatWest, marking the beginning of a new collaboration between our two organisations. This Facility is the result of significant investment in honing our proposition to public sector customers and gives  eEnergy a clear competitive advantage in the market. It also allows us to offer our leading net zero energy efficiency services to larger multi-site projects and contracts. This Facility has been structured to allow us to scale rapidly in a large addressable UK market.

 “What is particularly exciting about this new Facility is its innovative structure which will lower our cost of capital and also provide us with longer-term economic upside on each project.

 “We look forward to this new relationship with NatWest which we hope is a start of a much longer-term relationship given the opportunities available.”

 Jacob Lloyd, Head of Specialist Asset Finance at NatWest, comments: “NatWest is delighted to be able to support eEnergy by acting as Structuring Bank & Hedge Counterparty for this innovative financing. We look forward to working with the eEnergy team going forward as they execute their contract pipeline and assist the public sector with deploying energy efficiency and decarbonisation assets.”