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Innova gets £40 million debt facility from Triple Point to develop renewable energy projects

Innova debt facility
Picture credits: Innova

London-based Triple Point, a purpose-led investment manager, and Innova, a renewable energy business, have agreed to a debt facility of up to £40 million to support the latter’s accelerated growth in UK Solar and Energy Storage Systems (ESS). 

This latest facility builds on the long-standing partnership between Triple Point and Innova, which began in 2017. The latest debt facility will provide funding to support a diverse range of projects, from those at an early stage of development through to those ready to build.  

Develops renewable energy solutions  

Founded by Robin Dummett and Andrew Kaye in 2014, Innova develops, builds, and operates a range of innovative, environmentally sustainable, long-term renewable energy solutions. Innova works with the mission to create utility-scale renewable energy projects using multi-technologies that take large energy-intensive users off-grid, positively improving the environment, and benefiting local businesses and communities. 

Innova will achieve this mission by continuing to develop, build, and operate innovative, environmentally sustainable, long-term renewable energy solutions. To date, It has over 60 DNO and Grid-connected sites under development in the UK, with a combined solar and storage capacity of over 24GW. 

Steve Gordon, Head of Corporate at Triple Point commented; “We have a strong, long-standing relationship with Innova, and this significant deal represents an exceptional opportunity – supporting the acceleration of the energy transition industry and backing one of the UK’s leading operators.”

Daniel Mushin, Investment Director at Innova said: “This facility with Triple Point represents an exciting milestone in Innova’s mission to help the UK meet its Net Zero targets by providing significant funding towards our accelerated growth in UK Solar and ESS. We are delighted to continue our collaboration with Triple Point on this facility, and we look forward to seeing how our already long-standing relationship continues to develop for the future.”

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