Renewable Energy Lending Market kick-started with $20 million
We're thrilled to announce our new Renewable Energy Loan lending market!
Today we’re delighted to announce the launch of our new Renewable Energy Loan lending market. This new market will allow Plenti^ lenders to invest in loans to fund the purchase and/or installation of clean energy products.
To kickstart the launch of this market, we are delighted to announce the Government’s Clean Energy Finance Corporation (CEFC) has approved a $20 million investment into the Renewable Energy Lending Market. This marks the first investment by an Australian Government body through an Australian consumer lending platform.
Low rate renewable energy loans facilitated through the new lending market are for an indicative term of 7 years and will fund individual and business loans for a wide range of green purposes including solar panels and battery systems, energy-efficient lighting, emissions-reducing industrial applications and electric and low-emission cars and trucks.
Australia's energy footprint
For lenders, the Renewable Energy Loan lending market provides a simple way to invest directly in clean energy products. We think that the opportunity to earn attractive, sustainable returns while helping improve the country’s energy footprint, will be a compelling option for many investors, both large and small.
For borrowers, this new marketplace will provide affordable finance for clean energy products, thereby incentivising the uptake of clean energy technologies.
Daniel Foggo, CEO of Plenti, said “We’re excited to be providing investors with exposure to a hard-to-access asset class that delivers attractive, stable returns, whilst supporting the environment. We’re also delighted to have support from CEFC, an important Government organisation, as we look to deliver attractive financing options to our borrowers.
There is also a nice symmetry to this support from the CEFC, as it was at a similar stage of its evolution that the RateSetter Group in the UK benefited from its Government investing via its platform to help support SMEs grow their businesses.
See section 15 of our Product Disclosure Statement for more details on the Renewable Energy Loan lending market, including a list of Approved Green Products.
Written byBen Milsom
Ben co-founded Plenti in 2014 and has diverse experience in financial services and online strategy, well-practised in high-growth digital ventures.