Co-op banking on renewables

A MASSIVE green investment portfolio launched by the Co-operative Bank could see more finance available for Teesside’s renewables sector.

A MASSIVE green investment portfolio launched by the Co-operative Bank could see more finance available for Teesside’s renewables sector.

The £400m set aside for companies looking to finance renewable energy, and carbon reducing products and services, is thought to be the largest pot of money ring-fenced by a bank for such initiatives.

Kevin Anderson, senior corporate manager at the North East CBC in Newcastle, said: “We've already provided funding for a number of carbon savings schemes where state-of-the-art fuel-efficient systems have drastically cut organisations Co2 emissions. The additional £400m will accelerate and drive forward our commitment to this sector.”

The bank is also looking to open another eight corporate banking centres over the next 18months and Teesside could be a target, said a spokesman.

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