Renewable energy is to receive a boost from two major UK banks after businesses hinted at the need for extra funding.
NatWest and the Royal Bank of Scotland have set aside £50 million for renewable sources as the demand for green energy grows across the country.
On the back of a recent survey which suggested 33% of agricultural companies wished to introduce solar panels and wind turbines, the banking giants have set up a 200 strong team to meet the demand.
The research discovered that businesses were keen to use green energy, as after the initial installation fee, it will dramatically reduce their yearly running costs.
With 40% of Europe’s wind blowing over the UK, it is hoped that this project can aid the government’s target of generating 15% of the country’s energy from renewable sources by 2020.
Ian Burrow, head of Agriculture and Renewable energy at RBS said: “We’re serious about being at the forefront of helping UK businesses switch to a more sustainable way of meeting their energy needs.
“We have nearly 200 relationship managers trained in covering the technical, legal and financial considerations specific to renewable energy. No other bank can offer this depth of knowledge and level of service to SMEs [small and medium enterprises].”