Hive Energy secures bank guarantee for overseas expansion

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UK Export Finance (UKEF) has assisted renewables developer Hive Energy in securing a £19m bank guarantee facility that will help the Hants-based company expand abroad.

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The guarantee will allow Hive to deliver new and existing renewable energy projects, with an immediate focus on Türkiye, Poland, Croatia, and Serbia.

For its renewable energy projects, Hive acquires suitable sites, secures access to grid networks, achieves planning permissions and secures finance to build the infrastructure.

The new facility will allow Hive to finance ongoing projects in Türkiye, where it has developed 11MW of photovoltaic power generation plants, and extend into new markets.

The firm has also begun to develop new facilities to produce green hydrogen and green ammonia, with core projects in South Africa, Spain, and Chile.

In a statement, Roy Naismith, CFO of Hive Energy, said: “This support from UKEF and Santander has allowed an acceleration in our drive to increase global production of renewable energy. We now have additional financial capacity to ramp up activity in Türkiye, Serbia and other territories helping us to deliver clean energy more quickly and more widely in our mission to reduce global carbon emissions.”

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