RBS May Lend $631 Million to Clean Power, Focusing on Biomass
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Royal Bank of Scotland Group Plc, Britain’s biggest government-owned lender, may channel as much as 400 million pounds ($631 million) into clean energy this year with a focus on biomass.
The bank is working on about five deals to support plants that will use organic matter such as wood chips to generate electricity, said Andrew Buglass, head of energy in RBS’s structured finance division. The facilities, to be built from scratch, will each have a capacity of 50 to 150 megawatts, he said. Projects of that size may cost as much as 300 million pounds and RBS expects other banks to invest as well.