Ubi Leasing and Abf Leasing
fund construction of two photovoltaic power plants.
As mentioned earlier in this issue
(see Determining value, DLL
takes on energy sector , UniCredit dives into
renewables and Leasing could benefit from biogas
revolution), the expansion of the green energy sector
is providing significant opportunities for lessors with sufficient
asset knowledge.
Go deeper with GlobalData
It has been reported that UK company Lombard is
to finance a multimillion pound package to supply at least 6,000 UK
homes with free solar power installations,
The RBS subsidiary is said to have supplied the
package to renewable electricity company A Shade Greener, which is
now installing solar panels on houses in northern England – a
measure that could see domestic electricity bills cut by up to
50%.
Domestic solar photovoltaic panels usually cost
between £15,000 (€18,000) and £25,000 to install. However, A Shade
Greener will be installing them for free, and collecting the
feed-in tariff, which is guaranteed for 25 years.
The tariff is aimed at creating grid parity for
renewable energy and means regional and national electric grid
utilities have an obligation to buy electricity from suppliers of
renewable power.
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By GlobalDataThe company will initially focus on Yorkshire,
Derbyshire, Nottinghamshire, Lincolnshire and Humberside, but is
soon to extend into the Midlands and the South West.
Elsewhere in British leasing, Barclays is
involved in a similarly large-scale deal to finance “smart meters”
being rolled out to UK homes.
In Italy, lessors Ubi Leasing and Abf Leasing
are involved in a more traditional renewable finance deal, funding
the construction of two photovoltaic power plants for construction
business Gruppo Speziali.
Ubi Leasing, part of Italy’s Ubi Banca, will
finance a solar plant in Calabria, in southern Italy, for a total
of €6.2m.
The second plant, also to be built in Calabria,
will be financed by Abf Leasing, part of Banca Popolare dell’Emilia
Romagna for €4.6m.
Ubi Leasing also recently won another €5m
contract in southern Italy, for the financing of a photovoltaic
plant in Vasapulli, Puglia.
The Brescia-headquartered lessor was selected
by 9REN, a European developer and contractor of solar plants.
Corporance SpA, an Italian merchant bank
specialising in renewable energy projects, has advised 9REN on the
deal.
The new power plant should produce an
estimated 1m kWh yearly, equivalent to the energy needs of 400
households. Construction on the site has already begun.
