Renewable energy pioneer, Hive Energy, has clinched a substantial £19 million export finance package from Santander, with backing from UK Export Finance. The Hampshire-based firm specializes in solar power, battery storage, and green hydrogen ventures globally, and this infusion of capital will propel ongoing and upcoming projects in Turkey, Serbia, and beyond.
Growing Global Footprint
Founded in 2010, Hive Energy has already left its mark in 17 countries, developing large-scale solar parks and expanding into green hydrogen and green ammonia facilities. The newly acquired bank guarantee, facilitated by UK Export Finance, will enable Hive Energy to enhance its foothold in Turkey, building on the success of their 11MW photovoltaic power generation plants, and explore untapped markets like Serbia.
Diversifying Clean Energy Initiatives
The company’s trajectory extends beyond solar parks, with recent forays into green hydrogen and green ammonia production. Flagship projects in South Africa, Spain, and Chile exemplify Hive Energy’s commitment to diversified clean energy solutions.
Government Support for Renewable Exporters
The announcement not only signifies Hive Energy’s financial bolstering but also highlights the government’s support for small and medium-sized exporters in the renewable energy sector. UK Export Finance, through its General Export Facility scheme, has provided crucial backing for Santander, fostering the growth of businesses, particularly SMEs, in the renewable energy landscape.
Roy Naismith, CFO of Hive Energy, expressed gratitude for the support, emphasizing how it accelerates their global renewable energy production efforts. With additional financial capacity, the company aims to expedite projects in Turkey, Serbia, and other regions, contributing to the global mission of reducing carbon emissions.
Richard Armstrong, UKEF Export Finance Manager for Hampshire and Isle of Wight, emphasized the valuable role of government-backed export finance in the renewable energy sector. Santander’s Tee Cato affirmed their commitment to supporting Hive Energy’s growth, both in the UK and internationally, underscoring their anticipation of continued collaboration.
Source：miragenews.com
