An industry-led consortium investigating how to finance the best value Green Deal option for consumers has been created.The consortium has signed a Memorandum of Understanding (MOU) to develop the business plan for a not-for-profit organisation, The Green Deal Finance Company (TGDFC), to finance the best value Green Deal option for consumers.
The MOU signatories include British Gas, Carillion, Clifford Chance, E.ON, EDF Energy, Goldman Sachs, HSBC, Insta Group, Kingfisher, Linklaters, Lloyds Bank Corporate Markets, Mark Group, npower, PwC, RBC Capital Markets and SSE.
The consortium is already working closely with DECC, the European Investment Bank (EIB) and local authorities, with a view to maximising its assistance to the Green Deal market.
Over the next few months many more new associate members are expected to join the consortium, including suppliers, installers, providers, local authorities, and industry and consumer representative bodies.
The GDFC will be a national aggregator that can provide finance to all Green Deal Providers on an equal and open basis. By operating at a national level, it will minimise the operating and administration costs of Green Deal work and will quickly be able to access the cheapest sources of finance in the market at the highest possible credit rating.
Source: hvnplus.co.uk
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