Bulletin

Santander lights up new energy finance model

Light Bulb, Santander Lights Up New Energy Finance Model - SantanderCB

Santander has embarked on a project to retrofit LED lighting across its UK estate of 800 branches and 13 office buildings, under the terms of a new financing model that spreads the cost over 10 years in partnership with provider GE. Some 90,000 new lights will be fitted to achieve energy savings of over 50% and cut greenhouse gas emissions by over 7,000 tonnes a year. The lighting is procured and managed without any capital outlay by Santander. GE is providing system design, installation, maintenance and management over the course of the contract, and the Green Investment Bank and Sustainable Development Capital are providing the £17.5m finance. In a statement, the project partners said this 'unconventional approach, in which the financing partners enable the lighting to be procured as a service, rather than a product purchase', could pave the way for other organisations to invest in energy efficiency services without an impact on their balance sheet.

 

Note: News bulletin content has been provided by a third-party and is not the opinion of Santander

Other Articles

This International Women’s Day, our analysis reveals a continuing untapped potential and huge opportunity when it comes to women in…

London

London-based ACT Clean has secured private investor backing for a £10.2 million management buyout.

Bulletin
Spain

Santander takes 12 UK food and drink manufacturers to Spain on one of our successful trade missions. Adam Payne in the international team…

London

London-based ACT Clean has secured private investor backing for a £10.2 million management buyout.

Bulletin

This International Women’s Day, our analysis reveals a continuing untapped potential and huge opportunity when it comes to women in…

Getting a taste for Spain!

Santander takes 12 UK food and drink manufacturers to Spain on one of our Trade Missions. Alicia Ferrero Vega in the International team…

Bulletin

Where Next?