News Article
Anesco Signs £7million Finance Agreement For Its Solar Ground Mount Projects
The working capital debt finance package is a rolling facility that will permit Anesco to drawdown finance as it needs it, up to a maximum of £7million.
Anesco is a national company dedicated to helping businesses, local authorities, housing associations and homeowners to reduce their carbon emissions. The company has managed many of the country's largest and most complex energy efficiency projects, helping over 14,000 people facing fuel poverty and generating enough green energy to power more than 10,000 homes.
"In an environment where banks are readily criticised, we've been really impressed by the way RBS and its groups of companies have engaged with Anesco," said Adrian Pike, CEO of Anesco.
"RBS wanted to learn and understand our business models. They showed real knowledge of the sector and provided products that will save the company money in the short term, while providing a platform for us to grow significantly over the next five years."
He added: "As well as this agreement, we are now in discussion about further funds to help us deliver free biomass and commercial solar roof top installations."
Roland Emmans, head of South technology team, RBS CIB, said: "We're delighted to be working with Anesco, which is a pioneering company in a fast-growing sector. It's a firm that is really going places and we're pleased to be able to aid its future growth with this innovative finance solution."
Anesco is approved as a Green Deal Provider and has been recognised as one of the UK's fastest growing private companies and the seventh fastest growing cleantech firm in Europe. The company expects to reach its target of £100million revenue and an EBIT of more than £10million months ahead of forecasts, as demand for its services continues to grow.
