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Supporting the energy sector to transition to clean energy is integral to the UK achieving its net-zero ambitions and will support other sectors in the economy in their transition too. 

Increasing renewables

Financing the renewable energy sector involves taking a whole-of-energy-system view. As energy systems in the UK and abroad become increasingly geared towards renewables whose outputs are less predictable than traditional energy sources, there needs to be sufficient investment across the sector to enable consistent and reliable power delivery.

This includes new ‘flexible’ technologies such as long-duration storage and microgrids that can adapt to intermittent renewable energy flows, as well as technologies to support the energy efficiency of end users in areas such as clean transport and housing.

 

How we’re supporting our clients across the renewable energy system

Grid operations

Transmission and distribution

Elia Transmission Belgium (ETB) – Integrating renewable energy (Belgium)

Supporting the debut transaction of ETB’s inaugural green bond in the role of active bookrunner. The 10-year €500 million bond will finance interconnectors and integrating renewable energy generation in ETB’s grids.

TenneT – Renewable energy connections (Netherlands and Germany)

Advising and guiding TenneT through the necessary modifications needed to align its Green Financing Framework with the EU Taxonomy and the proposed EU Green Bond Standard (EU GBS).

E.ON – Expanding and upgrading energy networks (Germany)

Helping E.ON to execute a dual tranche green issuance used to finance and refinance projects in electricity networks, as well as in renewable energy, energy efficiency and clean transportation.

Utilities

Energy producers

Hornsea 2 – Offshore wind project (UK)

Participating in a syndicated loan deal to finance the construction of the Hornsea 2 project, which at the time was the largest offshore windfarm under construction in the world.

Lightsource bp – Financing solar assets (UK)

Involved in providing the finance for the construction, acquisition and operation of a portfolio of both ground and roof-mounted solar photovoltaic assets.

Energy storage

Battery facilities

Harmony Energy Income Trust plc – Building grid-scale batteries (UK)

Providing finance to support with a £60 million Capital Investment Facility over a five-year tenor to finance the construction of battery storage assets.

Businesses and consumers, energy users and producers

Supporting end users.

Consumers:  Raylo – Supporting circular tech consumption (UK)

NatWest Group provided a two-part facility (including Revolving Credit Facility and a further incremental debt flexibility) to Raylo, who offer affordable and sustainable ways to access technology products.

Transportation: Hansea Group – Investing in sustainable mobility (Belgium)

NatWest Group was mandated to support with the refinancing of Hansea’s debt facilities which will help the company finance its transition to a net zero fleet.

Industrial: SUEZ – Improving environmental services sustainability (France)

Supporting the issue of SUEZ’s inaugural green bond as active bookrunner alongside other banks.

Buildings: Landsec – Supporting construction of green buildings

Supporting Landsec’s first green bond issuance in the role of active bookrunner.

 

Supporting growth

Delivering the finance required to support the growth of low-carbon energy must therefore involve all aspects of energy infrastructure, from generation and transmission, to distribution, storage and usage.

NatWest Group has been a leading lender to the UK power and renewables sector over the last 10 years and our debt advisory and project finance spans UK, US and European markets.

Our oil and gas policy

On 9 February 2023, NatWest Group announced it will not provide reserve based lending specifically for the purpose of financing oil and gas exploration, extraction and production for new customers, and, after 31 December 2025 we will not renew, refinance or extend existing reserve based lending specifically for the purpose of financing oil and gas exploration, extraction and production.

Read more about our oil and gas policy

Disclaimers and cautions

This is for media use and not a financial promotion.

Security may be required. Product fees may apply. Finance subject to status.

Caution about this article. This article (i) has been prepared for information and reference purposes only; (ii) is intended to provide non-exhaustive, indicative and general information only; (iii) does not purport to be comprehensive; and (iv) does not provide any form of legal, tax, investment, accounting, financial or other advice.

This article should be read together with the full Climate Matters document (with special regard to the Cautionary Statements).

Please see NatWest Group’s 2022 Climate-related Disclosures Report for those views and other information including about our financed emissions and our exposure to heightened climate-related risk sectors.

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