Renewable energy firm Innova has secured a £40m debt facility to support its growth plans.
The company, which has offices in London and Cheltenham, has more than 60 sites under development in the UK, with a combined solar and storage capacity in excess of 24GW.
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Innova said the loan from investment firm Triple Point, would provide funding to support a diverse range of projects, at various development stages.
Triple Point previously provided Innova with debt funding for some of its operational subsidised solar assets.
Steve Gordon, head of corporate at Triple Point, said: “We have a strong, long-standing relationship with Innova, and this significant deal represents an exceptional opportunity – supporting the acceleration of the energy transition industry and backing one of the UK’s leading operators.”
Daniel Mushin, investment director at Innova, added: “This facility with Triple Point represents an exciting milestone in Innova’s mission to help the UK meet its Net Zero targets by providing significant funding towards our accelerated growth in UK Solar and ESS.
“We are delighted to continue our collaboration with Triple Point on this facility, and we look forward to seeing how our already long-standing relationship continues to develop for the future.”
