Novuna Business Finance has provided £10 million of funding to support Aura Power, a leading global developer of renewable energy projects, to progress its development pipeline of utility-scale solar PV and battery energy storage of around 12 GW in the UK, Europe and North America.
The deal demonstrates Novuna Business Finance’s appetite to support businesses that have the drive to help deliver the countries net zero ambitions. As part of Mitsubishi HC Capital UK PLC, the company is committed to making a positive and sustainable difference to its customers, communities and society and aims to make an impact by focusing on areas where its expertise, skills and experience will contribute to lasting progress on the road to sustainable change.
Matthew Andrews, Senior Relationship Manager for the Sustainability and Green Infrastructure team at Novuna Business Finance, said: “Supporting businesses that can make a real difference to the UK’s net zero goals is extremely important to Novuna Business Finance. It has been an absolute pleasure to work alongside Aura Power to provide it with a £10 million facility to fund its project development costs, bringing each of them a step closer to the ready to build stage.
“This deal is further proof of Novuna Business Finance’s commitment to supporting utility-scale solar PV and battery storage projects. It not only represents a significant step towards reducing carbon emissions and reliance on fossil fuels but also serves as a stepping stone to a future powered by clean, renewable energy.”