A residential power providers supplier backed by main Metropolis buyers has secured a £50m funding enhance from one of many world’s largest pension funds.
The brand new debt facility will add to a £250m mortgage from Barclays that Hometree secured earlier this 12 months, and shall be used to finance as much as 35,000 residential photo voltaic panel programs, batteries and warmth pumps.
Common annual power payments will enhance by £149 following the revision to the cap.
“We’re delighted that CPP Investments has joined us in our mission to help homeowners decarbonise their homes by installing solar panels and heat pumps,” stated Rory Duff, managing director of Hometree Finance,
“The energy transition will not happen without appropriate finance since very few people have the thousands of pounds needed for the upfront costs.”
Hometree, which was launched in 2016 by Simon Phelan, has set a goal of decarbonising greater than 1m properties by the top of the last decade.
It has stated it desires to construct Europe’s main residential power providers enterprise, combining {hardware} set up, financing, repairs and ongoing upkeep.
The corporate has raised tens of tens of millions of kilos in fairness from buyers together with L&G, 2150 and Vitality Affect Companions.
