How is Standard Chartered Supporting UK Renewable Energy?

In a continued effort to support sustainable finance, Standard Chartered has announced its support for the scaling of renewable energy solutions in the UK. 

The financial arrangement will encompass the production process, from development to operation of solar photovoltaic (PV) generation facilities. 

Photovoltaic systems allow light to be converted into electricity and are often referred to under the solar panel term.

Standard Chartered is the mandated lead arranger, lender, bookrunner and hedging counterparty. 

The funding is also for co-located battery energy storage systems (BESS) for the UK. 

Where does the financing come from? 

The bank supported financing which was raised by a subsidiary of an international solar company. 

Amalfi Finance Company raised the funds to support a portfolio of up to 1GW of solar PV to span the UK. 

Elgin is backed by Copenhagen Infrastructure Partners and its flagship fund, CI V. 

In order to allow space for additional projects to be included, the financing has been structured as a portfolio facility. 

The flexibility behind this agreement will enable what Standard Chartered calls “progressive development” for renewable assets without compromising the bank’s “disciplined and consistent” approach to financing. 

Standard Chartered’s green principles

The financing will act as an additional support structure in the UK as the country works to deliver a significantly decarbonised power system by 2030. 

In supporting the expansion of utility-scale renewable energy capacity in the UK, Standard Chartered is also building on its goals of financing sustainable development. 

Philippe Tabouis, Head of Infrastructure and Development Finance Group for Europe at Standard Chartered, says: “This transaction illustrates how portfolio‑based financing can support the scalable deployment of renewable energy at pace. 

“By partnering with Elgin Energy and Copenhagen Infrastructure Partners, we are providing long‑term capital and disciplined structuring to support the development of large‑scale solar assets that contribute to the UK’s clean energy ambitions and create a platform for continued growth.”

In May 2025, Standard Chartered also announced its support for the new battery gigafactory in the UK. 

The financial support totalled £1.036m (US$136m) for the construction of a 15.8GW gigafactory in England.

It acts as another support for the UK’s electric vehicle supply chain, delivering what the bank terms “significant economic uplift” to Sunderland. 

Saif Malik, UK CEO and Head of Banking & Coverage at Standard Chartered, says: “Supporting the transition to net zero is deeply embedded in how we operate as a bank and this project reflects how we bring that to life by supporting clients on their own sustainability journeys.”

These actions paint a clear picture of what the bank is hoping to achieve before the UK 2030 deadline. 

At the time of the announcement, the bank said its goal was to reach net-zero emissions in its own operations by 2025, with aims of spreading that goal across its financing by 2050. 

Further working towards its sustainable finance goals, the bank aims to mobilise US$300b in sustainable and transition finance by 2030 to guide clients on their own sustainable finance journey.