News

Anesco secures £7million backing from RBS

Adrian Pike, ceo of Anesco
Adrian Pike, ceo of Anesco

Energy efficiency solutions company Anesco has signed a finance agreement with RBS for funding of up to £7million for its solar ground mount projects.

The working capital debt finance package is a rolling facility that will permit Anesco to drawdown finance as it needs it, up to a maximum of £7million.

“In an environment where banks are readily criticised, we’ve been really impressed by the way RBS and its groups of companies have engaged with Anesco,” said Adrian Pike, ceo of Anesco.

“RBS wanted to learn and understand our business models. They showed real knowledge of the sector and provided products that will save the company money in the short term, while providing a platform for us to grow significantly over the next five years.”

He added: “As well as this agreement, we are now in discussion about further funds to help us deliver free biomass and commercial solar roof top installations.”

Anesco is a registered Green Deal Provider and says it expects to reach its target of £100million revenue ahead of schedule as demand for its services increases.