Derry businessman backing green energy growth with £30m fund

A Derry businessman says he's backing the North's efforts to grow its rate of renewable energy production with a new £30m green energy fund.

Wednesday, 10th May 2017, 9:37 am
Updated Wednesday, 10th May 2017, 4:17 pm

James Gibbons, from Clearpath Finance, said the fund will be available for new and existing wind farms and anaerobic digester businesses and projects .

To date, Clearpath Finance has drawn down over £8m of new capital for green energy projects since the company was established in 2016 but more growth is expected as the North seeks to meet more of its energy needs from renewable sources.

Mr. Gibbons said: “Obtaining and delivering finance in this current market can be extremely difficult.

“At Clearpath, we have identified the support and solutions needed for businesses who are seeking to finance or refinance their business or project at more competitive finance rates than those currently on offer.

“We will continue to provide new finance streams to businesses across Northern Ireland.”

Clearpath Finance provides an alternative source of lending as a commercial finance broker working with a number of major lenders across the UK.

Conor Devine, a chartered surveyor at Clearpath, said: “We are committed to helping green energy projects in Northern Ireland.

“Continued growth and investment into this sector is vital as we move to harvest renewable energy sources.

“At Clearpath Finance we have the capacity to support the green energy sector in Northern Ireland and we will ensure that business lending for the sector is through a simplified, uncluttered and expedient path as well as at a competitive rate.”

Staff at Clearpath Finance will be in attendance at the Balmoral Show this week to discuss renewable energy projects and advise on how best to avail of funding.

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