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(Alliance News) - Renewables Infrastructure Group Ltd on Friday announced that it has refinanced and expanded its revolving credit facility at lower rates to support investments in renewable energy projects.
The GBP500 million facility is available to the investment firm for a three-year term, and the interest will be charged in respect of the renewed facility is linked to the company's Environmental, Social and Governance performance.
Performance targets include an increase in the number of homes powered by clean energy from Renewables Infrastructure's portfolio, a rise in the number of community funds supported, and the maintenance of a low Lost Time Accident Frequency Rate.
The consortium of lenders to the facility includes National Australia Bank, Royal Bank of Scotland International, ING, Sumitomo Mitsui Banking Corp, Barclays PLC and Santander.
"We're very proud to have secured one of the first ESG-linked SONIA loans. We have set ourselves ambitious but achievable targets for the next few years which underline our commitment to sustainability and align our interests with our debt and equity investors," said Chair Helen Mahy.
Shares in Renewable Infrastructure Group were marginally higher at 127.09 pence on Friday in London.
By Dayo Laniyan; dayolaniyan@alliancenews.com
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