Investment manager Triple Point has agreed a debt facility of up to £40 million to support Innova’s accelerated growth in UK solar and battery systems.
In 2017 when Triple Point provided debt funding for operational subsidised solar assets owned by Innova. The latest £40 million debt facility will provide funding to support a range of projects, from those at an early stage of development through to those ready to build.
Innova has over 60 sites under development in the UK that have a combined solar and storage capacity in excess of 24GW.
Steve Gordon, Head of Corporate at Triple Point commented; “We have a strong, long-standing relationship with Innova, and this significant deal represents an exceptional opportunity – supporting the acceleration of the energy transition industry and backing one of the UK’s leading operators.”
Daniel Mushin, Investment Director at Innova said: “We are delighted to continue our collaboration with Triple Point on this facility, and we look forward to seeing how our already long-standing relationship continues to develop for the future.”