(28 March 2024 – Australia) NAB’s renewable energy loan book reveals sustained growth for global renewable projects as the bank announces a milestone 200th renewable energy transaction with Squadron Energy.
NAB’s committed renewable energy project funding has expanded to A$16.8 billion since 2003. According to on IJGlobal League Table MLA, NAB is recognised as Australia’s leading bank for project finance to the global renewable energy sector.
“The bank has seen significant growth in renewable energy financing in recent years with further growth expected over the next decade. In the 2023 financial year, NAB lent more than A$2.2 billion to global renewable energy projects and has almost matched this figure in the first half of FY2024 alone, with another A$1.9 billion in financing already committed to the sector” stated NAB Group Executive Corporate & Institutional Banking, David Gall.
“The growth is being driven by a notable increase in the scale of the projects in development which, in turn, has called for greater funding. We know a substantial amount of capital investment will be needed in a relatively short period of time for businesses to meet their decarbonation objectives. NAB continues to work in partnership with clients to provide banking expertise and high-value financing and investment options to support the transition” Mr Gall added.