Triodos Bank remains at the forefront in the financing of renewable energies. The European entity continues to boost renewable energies through its financial activity. Actually, in 2017 the company´s investment in the sector amounted to 1,500 million euros in Europe, 23.6% of its total global credit portfolio while in 2016, this amount accounted to 1,371 million euros.
234 renewable loans were made in Spain, almost half of the bank’s total projects in Europe. Investment in renewable energies represents 30.8% of the loan portfolio, with 363 million euros (346 million euros in 2016), according to a press release by the financial entity.
During 2017 Triodos Bank funded 472 projects in Europe in the energy sector, including the first free-Feed-in tariff wind farm built in Spain
During 2017 Triodos Bank funded 472 projects in Europe in the energy sector, including the first free-Feed-in tariff wind farm built in Spain. Out of these projects, 435 correspond to the funding of renewable energies plants and 37 to energy efficiency projects. The total power of these facilities amounts to 3,100 MW, and they can produce the equivalent to the electricity consumption of 1.4 million European households.
At present, the entity´s renewable energy portfolio is comprised mainly of wind energy initiatives (52%) and solar energy projects (37%), in addition to 3% of hydraulics. Likewise, it is committed to the financing of energy efficiency initiatives. In the words of Miguel Ángel Amores, manager of Renewable Energies and Environmental Technologies, “Triodos Bank, since its origins more than 30 years ago, is entirely committed to the renewable energy sector where it has enormous experience, as we understand that it is one of the most effective tools to fight climate change and boost sustainable and socially fair development. Our long-term commitment to this sector allows us to seek innovative solutions and fund plants with different technologies and economic regimes, including projects subjected to feed-in tariffs, auction, PPA and even at market risk “.
These initiatives helped to prevent the emission of more than 2.4 million tons of CO2
Overall, these initiatives aimed at renewable energies funding helped to prevent the emission of more than 2.4 million tons of CO2 (1.7 million tons in 2016). This figure comprises around 200 wind energy projects, 200 photovoltaic solar energy projects and 36 hydroelectric projects. The rest includes biomass projects and a wide range of energy efficiency initiatives.
Solid leadership in the financing of renewable energies
Since 1986, Triodos Bank has been committed to the financing of renewable energies through different projects, an experience that has enabled it to position itself for the third consecutive year as a leader in financing in the sector, according to figures from the Global Energy Clean. Triodos Bank began to invest in the development of renewable energy after the Chernobyl disaster, with a specialised focus on wind energy. Since then it has expanded its activity around a wider sector including both renewable and environmental projects.
“We are living a key historical moment and, specifically, in our country where we are awaiting the next approval of the Law on Climate Change and Energy Transition”
Among the key elements for an energy transition strategy, Triodos Bank has identified the rapid replacement of fossil fuels by renewable energy, the development of energy efficiency or the electrification of transport, opting for democratic and decentralized energy generation. In the words of Vera Pereira, manager of Renewable Energy and Energy Efficiency: “We are living a key historical moment and, specifically, in our country where we are awaiting the next approval of the Law on Climate Change and Energy Transition, key for the fulfillment of the commitments of all social agents with the planet and future generations “.
This transition towards a clean energy scenario will also help create 52 million jobs in the year 2050, according to the study carried out by Stanford University on the transition to a scenario of 100% renewable energies, in addition to helping prevent climate change.
Triodos Bank is co-founder of the Global Alliance for Banking with Values, a network of 53 ethical and sustainable banks from around the world that promote a more sustainable financial system at the service of human needs and the real economy.