Up to £2bn of support has been allocated for businesses embarking on ‘clean growth’ projects overseas through the UK’s Export Finance (UKEF) facility, the government confirmed today. Through the UKEF, the government provides overseas buyers of British goods and services with financial support in the form of long-term, fixed-rate lending. At the Budget on Wednesday Chancellor Rishi Sunak set aside £8bn for the credit facility over the current Parliament, of which the government said a quarter would be specifically earmarked for green projects. The new funding builds on support UKEF has provided for previous green projects, such as £230m of project finance guarantees for one of Asia’s largest offshore wind farms in Taiwan, as well as £47m of support for UK developer Solarcentury to build two of the largest subsidy-free solar farms in Spain.
Business Green 13th March 2020 read more »