Investors Planning to Refurb Green Deal Announced
Greenstone Finance and Aurium Capital Markets have acquired the business and assets of the Green Deal Finance Company (GDFC), as well as its existing loan book.
Ministers have signed off the deal, selling the Green Deal Finance Company’s (GDFC) assets and remaining loan book in a takeover worth about £40m – a move that will lead to the new owners relaunching the business.
Greenstone Finance, which invests in organisations focused on financing in renewable energy and energy efficiency, and Aurium, a structured finance boutique with a focus on renewable energy, have acquired GDFC Services and its subsidiaries with immediate effect; the new ownership will continue to service the existing Green Deal loans and will commence financing of new Green Deal loans in Q1 2017.
Green Deal loans offer competitive interest rates and are more easily managed as loans are repaid as part of a customer’s energy bill, for energy efficient measures such as; solid wall insulation and new boilers.
Minister for Energy and Industry Jesse Norman says: “People living in more energy efficient homes can have lower bills and warmer homes, while producing fewer carbon emissions, which is why the government has committed to improving the insulation of more than one million homes over this Parliament. This deal will help us to reach that goal.”