Renewable energy developer Innova has secured a substantial debt facility of up to GBP 40 million (USD 48.5m/EUR 45.7m) from investment manager Triple Point.
This financial infusion will serve as a catalyst for a broad spectrum of projects at various stages of development, encompassing those in the early planning phase to those on the cusp of construction, according to a statement released on Monday.
Innova's formidable pipeline of renewable energy projects in the UK boasts a combined solar and energy storage capacity exceeding 24 GW. This extensive portfolio includes over 60 Distribution Network Operators (DNO) and National Grid-connected sites, all currently in various stages of development.
The collaboration between Innova and Triple Point has been a longstanding partnership, dating back to 2017. Earlier this year, Innova secured GBP 5 million in debt financing from this reputable infrastructure investor, further solidifying their commitment to advancing sustainable energy projects in the UK.
