Urbanvolt Features in Business Post | Tuesday 17th May | Link to original article here
UrbanVolt has announced a €36m term loan facility, made up of a €30m seven-year loan from Swedish-based credit fund PCP and €6m from existing funders BVP and Beach Point Capital.
UrbanVolt finances and installs solar panels on the rooftops of businesses and sells the solar generated electricity to those same businesses at up to 30% below prices charged by traditional electricity suppliers.
UrbanVolt guarantees the price for up to 30 years. Customers only pay for the power they use.
The loan facility will be used to fund the installation of solar panels and related equipment on UrbanVolt’s primary target of commercial and industrial client sites in both Ireland and the UK.
Co-founder and CEO Kevin Maughan described the funding facility as “transformational”.
See the full article here.