Triodos named world’s top bank for funding clean energy deals

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Bristol-based bank Triodos has topped a global league table for funding the most clean energy deals in the world last year.

The institution, which is based on Deanery Road, financed more than $433 million (£310.9m) green deals in 2020.

The bank ranked ahead of France’s Société Générale, which placed second, and Spain’s Banco Santander SA.

It is the sixth year running Triodos has topped the table, which is published by independent analyst Clean Energy Pipeline.

With a total of 69 deals across Europe, Triodos took the title of ‘Most Active Lead Arranger’, incorporating traditional renewables, such as onshore wind, solar and hydro, with electric vehicle (EV) charging, battery storage and energy-efficiency projects.

Transactions last year include the financing of Belgium’s largest battery energy storage system; funding a community hydropower scheme in Scotland; finance for EV charging infrastructure in the Netherlands and support for solar PV projects in Spain.

Gwyn Rhodes, head of business banking at Triodos Bank UK, said financial institutions had a “critical role” to play in financing the world’s transition to low carbon.

He said: “As well as not funding any fossil fuels, we continue to explore innovative ways to positively invest to address the climate emergency.

“To be ranked most active lead arranger in the world demonstrates our commitment to widely distributed energy generation systems rather than simply size of deals.”

Top 10 institutions for financing clean energy deals in 2020 Triodos

Société Générale

Banco Santander SA BNP Paribas SA Sumitomo Mitsui Banking Corporation (SMBC) Norddeutsche Bank (Nord/LB) Rabobank European Bank for Reconstruction and Development (EBRD) European Investment Bank (EIB) Asian Development Bank (ADB)

Mr Rhodes added: “Amid the challenges of 2020 we continued to work hard to support the clean energy sector – particularly at a community level – building on our specialist expertise, flexible approach and European reach.”

Triodos has been operating in Europe for more than 40 years and renewable energy is the group’s largest portfolio.

It first entered the renewables market in the mid-1980s with a focus on wind energy and has since broadened its focus across the wider renewable and environmental sectors.

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