Hive Energy Obtains £19 Million Bank Guarantee Facility to Drive Renewable Energy Projects

Renewable energy developer Hive Energy has recently secured a £19 million bank guarantee facility, supported by UK Export Finance (UKEF), to drive its international expansion efforts. With a focus on Türkiye, Poland, Croatia, and Serbia, this guarantee empowers Hive Energy to advance both existing and new renewable energy projects.

Specializing in developing carbon-saving projects from inception to operations, Hive Energy has a track record of success spanning over thirteen years. Operating globally with projects in 17 countries, the firm’s growth from its Romsey headquarters underscores its commitment to sustainable energy development.

The newfound financial backing enables Hive Energy to progress ongoing projects in Türkiye, including 11MWs of photovoltaic power generation plants already operational, while also venturing into emerging markets like Serbia. Additionally, the company has embarked on initiatives to produce green hydrogen and green ammonia in regions such as South Africa, Spain, and Chile.

Roy Naismith, Chief Financial Officer of Hive Energy, expressed gratitude for the support from UKEF and Santander, emphasizing how it accelerates the company’s efforts to expand renewable energy production globally. The increased financial capacity enables Hive Energy to deliver clean energy swiftly and effectively, aligning with its mission to combat global carbon emissions.

UKEF’s involvement, facilitated through its General Export Facility scheme, underscores the UK government’s commitment to supporting firms in the renewable energy sector. Richard Armstrong, UKEF Export Finance Manager for Hampshire and Isle of Wight, highlighted the significance of backing Hive Energy’s endeavors to reduce the energy sector’s carbon footprint and secure international contracts.

Tee Cato, Senior Director of Trade and Supplier Finance at Santander, echoed the sentiment of support, emphasizing the bank’s dedication to providing Hive Energy with the necessary financial tools to meet performance bond requirements and expand its business globally. The collaboration between Hive Energy, UKEF, and Santander exemplifies a collective commitment to advancing renewable energy solutions on a global scale.