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  • hammaad saghir

Hive Energy's £19 Million Bank Guarantee Facility Sparks Momentum for Global Renewable Energy Drive

Renowned renewable energy developer Hive Energy has recently clinched a substantial £19 million bank guarantee facility, bolstered by the support of UK Export Finance (UKEF). This strategic move aims to propel the company's international expansion initiatives into high gear, primarily focusing on territories including Türkiye, Poland, Croatia, and Serbia.

Distinguished for its expertise in shepherding carbon-saving projects from conception to execution, Hive Energy boasts an illustrious track record spanning over thirteen years. Operating across a global footprint spanning 17 countries, the firm's headquarters in Romsey is the nucleus for its sustainable energy endeavors.

Buoyed by this newfound financial backing, Hive Energy is poised to advance ongoing projects in Türkiye, including operating 11MWs of photovoltaic power generation plants, while simultaneously venturing into nascent markets such as Serbia. Moreover, the company has embarked on ambitious endeavors to produce green hydrogen and ammonia across diverse regions, including South Africa, Spain, and Chile.

Roy Naismith, Hive Energy's Chief Financial Officer, expressed his heartfelt appreciation for the unwavering support from UKEF and Santander, highlighting how this alliance catalyzes the company's global renewable energy expansion aspirations. Hive Energy's augmented financial prowess equips It to expedite the delivery of clean energy solutions, steadfastly aligning with its overarching mission to combat the scourge of global carbon emissions.

The involvement of UKEF, facilitated through its pioneering General Export Facility scheme, underscores the UK government's steadfast commitment to underpinning firms operating within the renewable energy sector. Richard Armstrong, the Export Finance Manager for Hampshire and Isle of Wight at UKEF emphasized the pivotal role of supporting Hive Energy's endeavors in curbing the energy sector's carbon footprint and securing lucrative international contracts.

Echoing this sentiment of solidarity, Tee Cato, Senior Director of Trade and Supplier Finance at Santander, underscored the bank's unwavering dedication to furnishing Hive Energy with the requisite financial instruments to meet performance bond requisites and expand its global footprint. The symbiotic collaboration between Hive Energy, UKEF, and Santander epitomizes a collective resolve to spearhead the proliferation of renewable energy solutions on a truly global scale.


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