Triodos Bank has been recognised as the Most Active Clean Energy Lead Arranger in 2023, following its involvement in 97 deals with a combined value of $517.98 million.
Triodos’ ranking was announced in Clean Energy Pipeline’s latest Top Clean Energy Lead Arrangers Report and highlights the bank’s active role in financing global renewable energy projects.
The report, which ranks financial institutions by their participation in renewable energy project financing, pointed to Triodos’ unique position in the sector as an active figure in the global energy transition.
Triodos’ experienced team of green experts have taken concerted efforts to back a wide range of renewable projects in Europe and more emerging markets, resulting in a solid volume of deals to show for its work.
With over four decades of experience in financing renewable energy and energy efficiency, Triodos Bank has built a solid foundation in sustainable finance.
Amandine Tetot, Head of Project Finance at Triodos Bank UK, attributes the bank’s ability to maintain an impressive deal flow to its deep-rooted expertise and long-term partnerships with clients.
“Triodos Bank has 40 years of unique experience in financing renewable energy and energy efficiency,” said Tetot.
“As a pioneer of the movement, Triodos customers value our specialist expertise and tailored approach. With lending in five European countries, and global activity through Triodos Investment Management, we’re able to share this expertise across borders and to collaborate internationally.”
A core principle of Triodos’ strategy is its ability to fund projects of all sizes, including those that other banks and financiers may overlook.
“A key element of our strategy is providing an informed and flexible funding approach for projects of all sizes. This includes smaller or community-level projects that other banks and debt funds may not be prepared to consider,” explained Tetot.
“We also foster long-term relationships with our customers, building a partnership. This means that we often start with smaller loans to enable demonstration projects to happen and to support new business models to scale. As they grow, we grow our lending alongside them.”
“In addition, we offer access to different types of capital, including both debt and equity. In the UK, we provide advisory services and were the first bank to offer a crowdfunding platform,” noted Tetot, pointing to the bank’s pioneering role in crowdfunding for clean energy projects.
Fostering energy transition partnerships
Triodos has not only focused on proven renewable technologies but also keeps a close watch on emerging innovations are shaping the future of the energy sector.
“Notable transactions from the Triodos team in 2023 included floating solar projects, aquifer thermal energy storage and battery energy storage systems,” highlighted Tetot.
“Alongside this, we supported decentralised energy generation such as rooftop solar and energy efficiency.”
While Triodos believes that a significant share of emission reductions can be achieved through established technologies, Tetot emphasised the need for financial innovation to scale their deployment.
“We believe that a large share of the emission reductions required in the energy sector can be achieved using proven technologies,” continued Tetot.
“However, we also need innovation from the financial sector to accelerate the scale of their deployment. EV charging infrastructure and heat pumps are both good examples of where this kind of innovation is required.”
Looking ahead, Tetot is particularly focused on technologies that enhance grid resilience and support decarbonisation: “At Triodos, we particularly monitor technologies and business models that can support increased generation and resilience of the grid, as well as decarbonisation at the point of demand.
“This is where investments for the energy transition are still falling short, and progress needs to be accelerated.”
Looking ahead
Triodos Bank is already planning its pipeline for 2024 and 2025, with a focus on projects that contribute to systemic change within the energy sector and beyond. Tetot highlights two main categories of projects that Triodos will prioritise.
“Firstly, projects that accelerate the energy transition alongside one or more of the other transitions that our society needs,” outlined Tetot.
“For us, these include tackling the way we produce food and how we use resources, combatting inequalities in society and supporting wellbeing for all. An example might be a project that enables the increase of renewable energy generation while also increasing biodiversity.
“Secondly, we want to support projects that lead to deeper system change in the way our society produces, consumes and owns energy. For example, introducing financial innovations to empower communities to actively participate in large renewable energy projects, or enabling more community-driven energy infrastructure.”
As Clean Energy Pipeline continues to monitor and track renewable finance transactions across every global market, Triodos is expected to feature heavily among the clean energy deals recorded in 2024.
This includes support for a wide variety of solar PV, onshore wind, energy storage, and energy transition technologies.
More information on Triodos and its wider team of professionals can be found here.